LITTLE PROSPECT OF REDUCTION IN TAXES FOR BRITISH PEOPLE

Otago Daily Times, Issue 27017, 28 February 1949, Page 5

LITTLE PROSPECT OF REDUCTION IN TAXES FOR BRITISH PEOPLE

NZPA Special Correspondent LONDON, Feb. 25. A record peace-time Budget is anticipated following the publication of the Civil Estimates. It is thought likely that it will be £600,000,000 up on last year, with the total of ordinary expenditure in the region of nearly £3,500,000,000. The Times, in a leader,'' says it is quite clear that there is much less room for any reduction of taxation than might reasonably have been hoped a year ago. The paper adds that, there are signs, fortunately, that the yield of some of the principal taxes is proving higher than estimated last April, but unless some relief comes from this source the outlook for the taxpayer—and every citizen of the country is now a large taxpayer —is gloomy in the extreme. “It may be that the voting public is determined that the social services should be maintained and even extended,” says the paper, “ but that same public will have to understand that, if that is so, then to preserve order in the public finances the taxation of all and sundry will have to be maintained and even extended accordingly. Over-spending must mean over-taxa-tion, with no .real benefit to anyone, poor or rich.”