EXCESS PROFITS TAX

Otago Daily Times, Issue 17069, 30 July 1917, Page 6

EXCESS PROFITS TAX

QUESTIONS BY MR A, WALKER, • (Feom Otje Own CoREESPOHDKirr.) FW *u ♦ ~™«UNGTON, July 28: Jfear that the excess profits tax would be repealed was expressed in the House earry this morning by Mr Walker (Laboi member for Bunedin North) SJa ™** . He admitted that there were hardships m wrth the tax, but Was it not possible to have such removedby ? Hl° pealed the tax what substitute was the Minister of Finance goine to provide in order to raise the monel that was paid under it by a very large number of taxpayers. He questioned whether many of those who were contributing under the excess profits tax would pav as much under any other system of taxa-

Sir Joseph Ward: Oh, wont they I Mr Walker: Would the Finance Minister wL,f 6 r,,r hether J* 10 > rge Would pay as much under another system 83 »?? pa , y under the e^ profits taxi A Member: More. . Mr. Walker: Then if the Finance Minister is assured that these men will pay more tne objection of course is removed. Can we hare a guarantee that the large woollen mills and woollen factories of the country would pay as much under some other system of taxation they do under profits tax? If we can get an assurance that they would pay as much then my objection to the repeal of the Excess Profits lax would end; but we want some guarantee of that I might continue further, and * ask it the large mercantile warehouses m the country would pay as much under another system as under the excess profits tax If I have the assurance t)fet they would then I am prepared to cease my objection to the withdrawal of the excess profits tax.