A GRAVE IMPEDIMENT

Poverty Bay Herald, Volume LV, Issue 17236, 16 April 1930, Page 17

A GRAVE IMPEDIMENT

TAXATION IN BRITAIN BUDGET UNDER FIRE (Elec. Tel. Copyright—United Press Assn.) (Received April 16, 3 p.m.) LONDON, April 15. In the. House of Commons, Mr. Winston Churchill, opening the attack on the Budget, expressed the opinion that taxation in Britain had reached a point where it had become a grave impediment to the provision of new wealth Mr. Snowden was imposing £46,500,000 of new taxation. If the Government had not been changed, the new taxes would not have been needed. The popularity of the 4s Gd income tax had been assured by reducing the number of payers of it to limits where ils voting power was negligible. Recalling Mr. Snowden’s dictum that nobody need fear a. Labor Budget but lhe idle rich, MY. Churchill stated that Die modern productive millionaire was a highly economical animal, saving more than lie consumed, lie was a potent ally of tho Chancellor in his payments of super-tax and insurance, for deatli duties already amounted to 14s in the pound. They would now he (7s. When one impaired rich.men’s incentive to save and reinvest, injury fell on tho whole community. Mr. Snowden, on the one hand, was professing (he strictest financial orthodoxy, while Socialist agitators were, handing! out lmsh doles with both hands, and both were sending in the hill to the ratepayers. The only beneficiaries of the Budget were bookmakers. After Mr. Churchill and Mr. IMaxtnn had spoken, the debate sagged, and the House counted speakers out,