NEEDS OF COMMERCE

New Zealand Times, Volume L, Issue 11422, 19 January 1923, Page 7

NEEDS OF COMMERCE

ALTERATIONS IN INCOME TAX. EMIGRATION POLICY. Australian and N.Z. Cable linniitlc* (Received January 18, 10.20 p.m.) LONDON, January 18. The Association of British Chambers of Commerce carried a resolution declaring that the present drifting in connection with the reparations issue was most injurious to Britain’s commerce, owing to the desire not to embarrass France. The resolution was carried without discussion. Another motion was carried, which declared that in view of the increasing Empire trade development indirectly reducing unemployment in Britain, the association would support the principle of Empire settlement by close co-opera-tion with Die Dominions, whereby the publio bodies of Britain could take a direct interest in sending chosen groups from one district to selected areas tn 'the Dominions. The meeting also demanded the abolition of the corporations profits tax, and the operation of the income tax on the Royal Commission’s recommendations, allowing depreciation on wasting assets and permitting depreciation of plant and machinery to he regarded as annual trade expenditure.