CAPITAL LEVY
A LABOR LEADER’S ADVOCACY,
Press Association—By Telegraph—Copyright,
LONDON", September 29. Mr J. R. Clynos, M.P., at a meeting of business men atrihe Rotary Club at Leeds, advocated a graduated capital levy on property above £5,000, a man with £6,000 to pay 1 per cent., or £lO. He said that few persons realised that tho interest on the war loans was the largest single item of national expenditure. Mr Baldwin's last Budget proposed a sinking fund of £50,000,000 annually. -This was a large amount, yet on this basis the debt would not be discharged for five generations. A capital levy offered tho least painful way of escape. Most of the levy would ho paid by the more transference of securities, and no extensive bureaucracy was required, as tho existing revenue officials would suffice. Tho levy would yield £3,000,000,000 or £4,000,000,000 in two or three years.—A. and N. Z. Cable.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/ESD19231001.2.54
Bibliographic details
Evening Star, Issue 18394, 1 October 1923, Page 5
Word Count
150CAPITAL LEVY Evening Star, Issue 18394, 1 October 1923, Page 5
Using This Item
Allied Press Ltd is the copyright owner for the Evening Star. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons New Zealand BY-NC-SA licence. This newspaper is not available for commercial use without the consent of Allied Press Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.