“CONSCRIPTION OF WEALTH”
PHRASE CRITICIZED CONSIDERED MISLEADING BY SIR JOHN SIMON LONDON, May 25. “The country cannot raise the vast sums it is now spending yearly by the process known as soaking the rich,” sa - ’ the Chancellor of the Exchequer (Sir John Simon) in the House of Commons, replying to Labour criticism that wealth was not sufficiently contributing to the emergency expenditure. He added that the present death duties were tremendously high and that an additional yearly levy would reduce the size of estates and destroy the sources of future taxation. The phrase “conscription of wealth” was misleading, for in taxation everybody was conscript. “There can be no conscientious objectors,” he said. “The effect of the loss of confidence in the past year is clearly shown in the income tax returns, which have not reached the figure I expected. The present Budget proposals are framed to prevent the undermining of any growing confidence. Taxation must not be increased to the extent of throwing everybody into gloom.”
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https://paperspast.natlib.govt.nz/newspapers/ST19390527.2.38.3
Bibliographic details
Southland Times, Issue 23828, 27 May 1939, Page 7
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166“CONSCRIPTION OF WEALTH” Southland Times, Issue 23828, 27 May 1939, Page 7
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