NEARING THE LIMIT
TAXATION IN BRITAIN
HIGHER RATE, SMALLER YIELD
(Elec. Tel. Copyright—United Press Assn.) (Received April 17, noon.) . ’ LONDON, April IC.
An analysis of the national accounts made in financial journals reveal that Britaip is fast approaching the limits ci taxable capacity. . Income tax, levied at the rate oi 4s 6d in the pound in 1931-32, produced £256,000,000; a 5s rate in 1932-33 yielded only £251,000,000. Surtax receipts declined 'by £7,000,000, notwithstanding a 10 per cent increase in the rate. Customs and excise duty is forming Un increasingly large proportion of the revenue, amounting to 40.9 per cent, compared with 36 per cent in 1930-31.
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Bibliographic details
Poverty Bay Herald, Volume LX, Issue 18065, 17 April 1933, Page 5
Word Count
106NEARING THE LIMIT Poverty Bay Herald, Volume LX, Issue 18065, 17 April 1933, Page 5
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