Increased Customs Duties May be Retrospective

Manawatu Times, Volume LV, Issue 7242, 13 June 1930, Page 6

Increased Customs Duties May be Retrospective

ll' MERCHANTS RUSH GOODS OUT OF BOND. Per Press Association. WELLINGTON, Last Night. The Prime Minister made the following statement to-day regarding possible increases of taxation, particularly affecting the revenue received through tho Customs tariff: “It has come the knowledge of tho Government,” said Mr. Forbes, “that many commercial firms and others engaged in trade in the Dominion are anticipating increases in the rates of Customs duties ou articles in which they are interested. As I publicly intimated recently' the Government are faced with the necessity during the present financial year of raising extra revenue in order to balance the National Budget, but so far wo have not come to any decision in detail as to the methods by which this additional revenue is to be derived. The proposals of the Government in this respect will bo submitted to Parliament for consideration in due coufsc.

“Having regard to the present financial exigencies of the country, it would be extremely inconventicut if merchants forestalled the Government bymaking extensive clearances of goods from bond and thus possibly avoided any increased rates which Parliament might impose. I desire to say therefore that in connection with any increases in rates of Customs duties which may be approved by Parliament the Government will seriously consider making such increased duties retrospective if they are satisfied that abnormal clearances of goods affected have been made in anticipation of Parliamentary action.”