LOCAL BODIES' LOANS
TAXATION OF DEBENTURES,
PREMIER IN FAVOUR OF A CURB
(Special to the Times.)
WELLINGTON, September 21
In the House to-day Mr J. McCombs (Lyttelton I suggested that as the proposed tax on municipal debentures was likely to hamper local bodies in the raising of the moneys they required, the Prime Minister ought to make some announcement with a view to easing the position. Mr Massey said he thought that when (he local bodies raw (he bill they would have no cause for complaint, or at any rate very little cause for complaint. The debenture tax at present was a flat rate of 2s Gd, and he did not think that by an increase of tlm tax to 3s the financial position of local hod ies would be affected. It might not be a disadvantage (n local bodies if their borrowing operations were chocked for a little time. They were asking at the present lime for many millions, anil ho was quite certain that, if they got the money they could not spend it, to advantage just now.
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Bibliographic details
Southland Times, Issue 18934, 22 September 1920, Page 5
Word Count
180LOCAL BODIES' LOANS Southland Times, Issue 18934, 22 September 1920, Page 5
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