CAPITAL LEVY

Gisborne Herald, Volume LXXIV, Issue 22447, 30 September 1947, Page 3

CAPITAL LEVY

HUNGARIAN POLICY FOREIGN ASSETS TO GO (10 a.m) LONDON, Sept. 29. Reuter’s correspondent in Budapest says that a capital levy and the liquidation of all privately-owned gold stocks and foreign assets were two of the main points in a 32-point common programme publicly adopted by the Hungarian Coalition Government’s Communist and Socialist Democratic Parties. The joint programme is practically the same as that published by the Communists immediately after the August general election. If the Government adopts the programme, all non-essential articles, including tyres for private cars and foreign films, will be heavily taxed. All State-owned concerns must cease to make losses by May 1948. The number of Cabinet posts will be reduced and the salaries of diplomats severely cut. All the big banks will be nationalised and incomes over £6O a month will be invested in the three-year plan. The two parties will demand the disfranchisement of all Fascists, new election laws and the holding of municipal elections as soon as the law is passed. In foreign policy, they want treaties of friendship with all democratic neighbours and ask for the protection of the rights of Hungarians living within Czechoslovakia.