NO STRIKING DEPARTURE

Evening Post, Volume CXXII, Issue 31, 5 August 1936, Page 12

NO STRIKING DEPARTURE

(By Telegraph.) (Special to the "Evening Post.")""" CHRISTCHURCH, This Day. In the course of its leader on the Budget the "Star-Sun" says:— "The drastic increase in the basic rate of income tax from sevenpence to Is 8d means that taxation of the lower order of incomes is more than doubled, and that the proportionate increase in rate diminishes as the incomes figure rises. This policy is distinctly contrary to the usual radical precepts. However, it may be taken that Mr. Nash's promised simplification of the income tax scheme and the raising of the basic rate are the beginning of the new pol'/jy under which there is to be a gradual lifting of indirect taxation and a corresponding increase in direct

taxation. Generally speaking this first Labour Budget is the kind of statement that might be expected from any orthodox but rather extravagant Finance Minister in boom times. There is no striking departure from the usual financial practices, and no revelation of a new policy unless lavish expenditure can be called new. Labour made many promises after the election and is now redeeming them, on the whole very f> roughly and not without courage. The main principle is essentially simple. It is that everyone ought to be comfortable in this fortunate country, and that people who are more than comfortable must help those who arc less than comfortable. The sentiment is one to be applauded even if the Finance Minister in working it out does make a good many people temporarily unhappy." |