CURRENCY REFORM

Gisborne Times, Volume LXXX, Issue 12200, 12 March 1934, Page 3

CURRENCY REFORM

LAND PARTY'S SGTIEAIF. TAXATION ON INDUSTRY VORONf: A lON FT ARY INO l TRY COMAIiSSTON. (Press Association) WELLINGTON, Alarch Rh Proposals embodying the view that all Government resvenue fcT all purposes should he derived from rte wealth as reflected in the common it.\ - treated rental vale of land we e placed befo'ro members' yesterday afternoon by Mr. E. "W. Nico.nus on behalf of the Commonwealth Land Party of New Zealand. Mr. Nicolaus contended that confiscation from labor and capital by the taxation of the limits of their industry was financially and ethically wrong. At the very time when industry most needed every penny of its earnings, wan the time when taxation pressed most heavily upon it. The.getting of revenue from the 'rental revenue of land would nob bear upon labor or capital a whose earnings would increase. Mr. Nicolaus said that taxation entered largely into the financial sy.Ttem, a s it depended upon from where the revenue was drawn whether action was detrimental on beneficial to the individual, and, therefore, to the nation. Confiscation front labor to’ capital by the taxation of the fruits of their industry' was financially and ethically . wrong. Income-tax was a-' tax which was supposed to confiscate wealth front the wealthiest in society, and produced about onc-cigh.tli of the revenue, and custom’s taxation fell proportionately more heavily on ‘ the poor than on the rich.. The poor wer c unable to pass* it- on, nor could they appropEaro wealth from other, s to help to pay it.

- The committee, which hag been •sitting in Wellington during the part two weeks, adjourned the Wellington. sittings yentoi'day afternoon in order that it might proceed to Auckland, where evidence will bo taken. The commit!™ will open its sittings' in Auckland on Tuesday, and after about two weeks is expected to rctu'i’n to Wellington, where additional evidence will he beard.