BRITISH TAXATION.
CHANCELLOR OF THE EX CHEQUER'S PROPOSALS.
STATE INSURANCE CONTRIBU TIONS.
lEiec. Tel. .Copyright -Unil-vd Press Assn Sun Cable*,) (Received December 30, 11 a.m.) LONDON, Dec. 29.
Fifteen million employers and workers will become, on January 3, compulsory contributors to the Widowers, Orphans and Old Age Pensions Act which, emanated from thd last Budget, involving a fourteen per cent, iucreasei in contributions to State insurance in order to enable; the payment of greater benefits.
The/ Daily Mail understands that Mr. Churchill is satisfied he can frame his 1626 Budget at a substantially lower figure than that of 1925, excluding Ihe coal subsidy, which will probably total £30,000,000*. It is expected tho balancesheet on March 31 next, will show a deficit, but there is a possibility of reduction in direct taxation, provided Mr. Churchill succeeds in obtaining Oabinot's approval of new taxes, such as a tax on batting, a whisky export tax, and an extension of the luxury tax.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/PBH19251230.2.53
Bibliographic details
Poverty Bay Herald, Volume LI, Issue 16921, 30 December 1925, Page 7
Word Count
159BRITISH TAXATION. Poverty Bay Herald, Volume LI, Issue 16921, 30 December 1925, Page 7
Using This Item
The Gisborne Herald Company is the copyright owner for the Poverty Bay Herald. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of the Gisborne Herald Company. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in