BUSINESS OF PARLIAMENT

Hawera Star, Volume L, 21 August 1930, Page 5

BUSINESS OF PARLIAMENT

FINANCE BILL PASSED

COMMITTEE ON PETROL TAX

(Bv Telegraph—Press Association.) WELLINGTON; Aug. 20. Consideration of the Finance Bill in committee was concluded in the House of Representatives in the early hours of this morning. The Prime Minister intimated that a committee would be set up early next session to consider the apportionment of revenue from the petrol tax. It must remain undisturbed in the meantime. but he would agree to a restoration of the 8 per cent, allocation to the cities after March 31 next. The clause was passed on a division by 45 votes to 27. The Prime- Minister agreed to arrange for an amendment to be inserted when the Bill was before the Legislative Council, providing that the operation of the section relating to the Highways Act should he limited till August 31, 1931. The remaining clauses were passed without amendment and the Bill was read a third time and passed. The House rose at 3.35 a.m. till 2.30 J p.m. to-day. When the House resumed to-night the Land and Income Tax Amendment Bill, the Land and Income Tax (Annual) Bill, and the amendments to the Finance Bill were introduced by Gover-nor-General’s message anc. were referred to a committee of the whole House. The Prime. Minister very briefly outlined the proposals of the measures, chief of which were the repeal of fhe super-tax on land of an unimproved value of £14,500 and over, farmers holding land of the value of £750.) and over to become liable for income tax, and the provision for 5 per cent, exemption on the unimproved value of land and income tax. Mr. Forbes explained that under the Land and Income Tax (Annual) Bill the amount of income tax would be left as in the Budget—lo per cent. He had stated previously that he might have increased the amount because oi the abolition of the twopennv tax on Is 6d amusement tickets, hut after consulting the Treasury lie had decided to take a. sporting chance on the revenue. \ A clause was brought down by Governor-General’s message carrying out the Prime Minister’s promise to revert to a system -of paying 8 per cent, of the net petrol tax revenue to the larger towns on April 1, 1931 ; also his promise relating to payment of the main highways funds expiring on August 31 next year. All three Bills were read a first time and the House adjourned at 10 pm.