GOLD TAX QUESTION NOT YET SETTLED

Greymouth Evening Star, 20 September 1949, Page 6

GOLD TAX QUESTION NOT YET SETTLED

WELLINGTON, September .19 (P.A.) —The question of the reimposition of the gold tax on the appreciation in the price of gold had not yet been thought out, said the Minister of Finance (Mr Nash) this evening. 4 ' The man in the street would not notice greatly the effect of -the alteration in the dollar exchange rate, said a Price Tribunal official this evening. Comparatively few consumer goods in New Zealand came from dollar sources. Where adjustments were involved they would be substantially offset by the fact that the New Zealand £ was revalued upward in August last year. Consumer goods bought from dollar areas became cheaper because of the appreciation of the £N.Z. in 1948. There landed cost in New Zealand currency would: now be higher again, but not very much higher than before the 1948 adjustment. _ . An Auckland message says that an increase of at least £5O in the fares charged New Zealanders flying, to the United States or Canada will result from the devaluation of the £. It will cost Americans and Canadians no more to fly to New Zealand. The present fare is £l4B.