WAR TAXATION BILLS DISCUSSED

Dominion, Volume 33, Issue 3, 28 September 1939, Page 11

WAR TAXATION BILLS DISCUSSED

Savings From Votes Urged By Opposition

EFFECT OF INCREASE IN INCOME TAX

Consideration was given by the House of Representatives yesterday to the Government’s proposals for obtaining additional revenue to finance New Zealand’s war effort. Urgency was taken for all stages of both the War Expenses. Bill and the Customs Amendment Bill, the two measures imposing the special wartime taxation. The Acting-Prime Minister, Mr. Fraser, indicated that he would give today an outline of the business yet to be dealt with before the session could finish.

. Examples showing the effect of the increase in income tax on individuals and companies were given by the Minister of Finance, Mr. Nash, in moving the second reading of the War Expenses Bill. He was followed by the Leader of the Opposition, Mr. Hamilton, who said that with careful management of the money already voted it might be expected that the Government would have at least been able to get through the present financial year without increasing taxation. The country’s financial resources were already depleted through the Government’s policy, and the Dominion was entering the war with its coffers by no means full. Other members of the Opposition urged a substantial reduction in public works expenditure, the money thuS saved to be used for defence purposes. The only new legislation introduced yesterday was an Industrial Conciliation and Arbitration Amendment Act (No. 2) Bill, which corrects some minor defects in the principal Act. This Bill was read a second time pro forma and referred to.the Labour. Bills Committee.