THE FINANCIAL OUTLOOK.

Hawke's Bay Tribune, Volume XI, Issue 242, 17 October 1921, Page 2

THE FINANCIAL OUTLOOK.

FARMERS REPLY TO MR. MASSEY Gisborne, Oct. 15. At a meeting of the executive of the Poverty Bay Sheep Owners’ Federation the deputation of primary producers to the Premier was discussed and it was'decided to send a letter to Mr. Massey. The letter states that while the farmers have every confidence in the future of primary industry. and the country, yet they maintain it is no evidence of .pessimism io face the present position and recognise that a substantial increase .in the cost of production and transport is vitally necessary before industry can regain the pre-war economic basis, that cannot be reached if inflated wages and the low 7 standard of efficiency in labour is allowed to continue. The present financial position and unemployment must continue as long as the Arbitration Court decisions are given in defiance of economic facts, and tho farmers trust that the defects in tho Arbitration Court will be eliminated. They are aware that taxation has not increased, but by increased valuations the fanners pay more. They urge the injustice by which farmers pay income tax on money already paid. Any form of land tax should be removed. The writers believe retrenchment and economy in the public service would enable this concession, though general taxation can be only slightly increased. It was also decided to ask the Premier to make a statement setting forth the position in regard to surplus wool profits as ascertained by him in England. At a meeting of the Farmers’ Union the super tax was discussed and it was decided to write the Premier, pointing out the injustice of the 33 1-3 per cent super tax on land, which would still leave the farmer double tax to pay, land and income.