N.Z. INSURANCE CO.
VALUE OF BIG CONCERNS
SIR 11. MORTON'S REVIEW
(Pur Press Association.)
AUCKLAND, this day
At the annual meeting of the New Zealand Insurance Company, the chairman, Sir Henry Horton, stressed the importance of the part played by big commercial institutions in the Dominion's welfare. The bulk of the Government's income tax revenue was derived from the operation of successful companies, and if the Government struck at these they would require to increase taxation in other directions and also face further burdens through unemployment.
Referring to the lack of free intercountry trade, Sir Henry said that four New Zealand-formed institutions attain outside the Dominion a premium revenue of £500,000 per annum, which is more than all the overseas companies secure in New Zealand. The New' Zealand Insurance Company brought £OO,OOO from outside the Dominion towards the payment of dividends.
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https://paperspast.natlib.govt.nz/newspapers/PBH19380803.2.98
Bibliographic details
Poverty Bay Herald, Volume LXV, Issue 19699, 3 August 1938, Page 7
Word Count
141N.Z. INSURANCE CO. Poverty Bay Herald, Volume LXV, Issue 19699, 3 August 1938, Page 7
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