A SERIOUS BLOW

Poverty Bay Herald, Volume LV, Issue 17116, 23 November 1929, Page 7

A SERIOUS BLOW

NEW FEDERAL TAXATION WILL ADD TO UNEMPLOYMENT SYDNEY, Nov. 22. Mr. Theodore presented his Budget speech without warning at 10.28 last night, when the business of the House was proceeding drowsily to, as everyone supposed, an early closing. The press.was not supplied with details beforehand, as has been the practice in the past, and tlie telegraph officers had mostly gone off duty.

The result was a hectic time in rounding up telegraphists from their ! homes, while pressmen feverishly prepared messages from printed copies after the speech had began. To crown all, the pneumatic chute from the gallery to the telegraph office jammed, causing delay. The Budget taxes are hardly more unpopular among the business men than is their announcer, Mr. Theodore, to-day among Parliamentary pressmen. The Federal Government’s new tariff duties have dealt a staggering blow to British industries and, necessarily, raise the cost of living in Australia. Whisky, brandy, rum, gin and other spirits have been increased by Ss per. gallon. Very heavy increases have been imposed on imported cigarettes, cigars, felts, furs, white lead, and varnishes. White timber for box making has boon increased by 7s per 100 ft and super dressed timber by Bs. Prohibitive duties arc imposed on imported socks and stockings, duties in some cases having doubled. The foreign rate ou matches has been doubled. The Sun newspaper says: “This extra, £2,000.000 per year extorted by Ylr. Theodore by way of new taxation represents a tax of 5 per cent, oil £40.000,000 of our industrial income and is bound to result iu additional unemployment. The average amount of taxation paid by 8169 companies in Australia in tho past was £325 12s lid and tho average amount payable under the new schedule will be increased by £65 2s 7d to £390 15s Od.