WAR WEALTH LEVY.

Lyttelton Times, Volume CXVIII, Issue 18411, 18 May 1920, Page 5

WAR WEALTH LEVY.

COMMITTEE’S REPORT. By Telegraph—Prose Association —Copyright. (ImDoria.l News Service.! LONDON, May 10. The committee appointed to consider the practicability of a levy on war wealth reported affirmatively, and suggests that it) could best be carried out by the adoption of the inland revenue board scheme, which is estimated to yield £550,000,000. and will affect 75,000 persons. The committee, howover, strongly hold out that the principle of the levy on capital which is involved, is unsound, and will harm industry. The opinion in business circles appears to favour a continuance of the Excess Profits Duty more than a war levy, as likely to involve less disturbance to industry. ‘ . „ The Association of Chambers of Commerce is strongly protesting against tho levy.