BRITISH COAL BILL
BENEFITS TO INDUSTRY UNIFICATION OF ROYALTIES British Wireless RUGBY, Nov. 24 The Coal Bill was read a second time in the House of Commons by 301 votes to 139. Sir John Simon, Chancellor of the Exchequer, emphasised the significance of the unification of royalties and the transference to one public body of control, the management of which was hitherto divided among 4000 people. In defending the scheme of compensation for which the bill provides, Sir John said the plrfn as it stood was the greatest measure of compulsory expropriation of private property which Parliament had ever been asked to sanction. After unification all savings and profits made over royalties would return to the industry and not into the Exchequer. As loans for purchase were paid off more and more would be available for the industry to level and reduce royalty rates. Miners' wages were calculated on the sum left after royalty payments, and they would directly benefit.
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New Zealand Herald, Volume LXXIV, Issue 22896, 26 November 1937, Page 11
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160BRITISH COAL BILL New Zealand Herald, Volume LXXIV, Issue 22896, 26 November 1937, Page 11
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