TO BE REMOVED

Grey River Argus, 16 October 1946, Page 4

TO BE REMOVED

SIXPENCE IN POUND National Security Tax AUCKLAND, Oct. 14. “By early next May, the remaining sixpence in the pound of the National Security Tax will ba removed.” The Prime Minister, the Rt. Hon. P. Fraser in his Town Hall speecii here to-night, made this announcement. , • . ' , He said that the country had faced up to a heavy load of war taxation very bravely. He also said that reductions amounting to £21,000,000 a year had already been made in the taxation, and it had not been possible at the time of the last Budset to say any more. “The Government has been looking at the finances' —the revenue and expenditure—of the country, and has come to the conclusion that it will be possible, although it will not be easy, ,to deal with the National Security Tax as from early in the next financial year,” said Mr. Fraser. That meant that the sixpence in the pound would not have to be paid after the beginning of May, next year. That involved £8,000,000, the greater part of which would represent an increase of the income in the homes of the people.