BRITISH TAXATION
RESOURCES DRAINED. CAPACITY LIMITS. (Received 10.30 a.m.) LONDON,. April 16. Analyses of national accounts made by financial journals reveal that Britain is fast approaching the limits of the taxable capacity of taxpayers. Income tax levied aff the rate of 4/6 iir the pound in 1931-2 produced £256,000,000, whereas (the 5/ rate in 1932-3 yielded only £251,000,000. Siirtax receipts declined by £7,000,000. Notwithstanding the 10 per cent increase in the rate, iCustoms exeise is forming an increasingly large proportion of the national revenue, amounting to 40.9 per cent as compared with 36 per cent in 1930-1.
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Northern Advocate, 18 April 1933, Page 6
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97BRITISH TAXATION Northern Advocate, 18 April 1933, Page 6
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