REIMPOSING THE INCOME TAX.

Manawatu Times, Volume LXV, Issue 422, 27 May 1908, Page 4

REIMPOSING THE INCOME TAX.

* BLEEDING THE RICH. A HOr.vE OF COMMONS INCIDENT. Press Association.—Copyright. Received May j>l?, 31.45 p.m. London. I.ust Night. Discussing the Budget, Mr Austin Chamberlain taunted tlio Government with unsound ikinnce in establishing old-age noufiuus without knowing where tlio additional ton millions required in 11)0'.) for pensions, battleships and education, will como from. He declared that the abandonment of the contribntary tclieme of pensions \s*as a direct; discouragement of thrift, and the restriction affecting married couples w:is harsh and unjustifiable. Mr Snowden (Labour M.P. for Blackburn) advocated the redistribution of wealth. Money fur pensions and other social reforms could be, obtained by a graduated tax on incomes above £5000 a. year, and also by increased death duties. Mr Lloyd George, ridiculed tlie allegation os exhaustion of free trade fiu.incc. When tho tin:.- , , came to fiud the six million requirnd for pensions it would be found. The Government hoped to travel further in the direction of reduction of armaments. Mr George said 1.0 tixnght Mr Snowden , s suggestion for bleeding tho rich man, win In it might be valuable to some future Chancellorship of tho Exchequer, was not at present practicable, still it would not be too much to ask a portion of the community that hardly knew how to dispose qf its vast wealth, to contribute more towards improving the lot of the poor. It was deplorable, ho said, that much was spent providing machinery to destroy human lifo, all due to mad competition for which Great Britain was as responsible as any other country. The resolution for the re-impo-sition of the .income tax was carried by 230 to 31.