TAXATION BURDEN

Poverty Bay Herald, Volume LXVI, Issue 19890, 18 March 1939, Page 18

TAXATION BURDEN

POSITION IN DOMINION MR. S. G. HOLLAND’S VIEWS “If the country quota was wiped out it would be a sorry day for the country constituencies,’ said Mr. S. G. Holland, M.P. for Christchurch North, when speaking in the Civic Theatre. Tauranga, to a large audience. “The abolition of the epuntry quota would mean a loss of four or six country seats and a gain of that number in the cities,” he added. Mr. Holland said the prosperity of New Zealand was governed by the volume of primary products and the prices realised for them overseas. The .National Party had directed attention to the unwisdom of the country living beyond its means. In the last year the Reserve Bank had pumped into the money stream a sum of £10,000,000. “A dictatorial policy to New Zealand’s best customer, Great Britain, is unwise, and we are likely to hear more of quotas,” continued Mr. Holland. “Taxation in this country to-day is staggering, and it will be higher next year. Costs have increased tremendously and efficiency has fallen. There has been a marked decrease in the export value of dairy produce and other farm products.

“The Government said it could insulate New Zealand and prevent prices from falling in sympathy with the markets of the world,’’ said Mr. Holland. “There is no insulation policy. We are in a financial crisis to-day, and it is proposed to raise a loan of £14,000,000 while loans totalling £17,000,000 will be falling due.”