HEAVY TAXATION
YIELD OF £63,683,000 THIS YEAR The estimated total yield from taxation for all purposes this year, according to the Budget, is £63,683,000. This is equivalent to a rate of taxation a head of population of approximately £39/15/-. i . . The relevant figures, compared with those of last financial year, are as follows: — Est. Revenue. 1941-42 1940-41 £> & Consolidated Fund 33,737,000 34,874,000 Social Security 10,600,000 10,714,000 War Taxation 19,346,000 15,745,000 Totals 63,683,000 61,333,000 Although there has been no increase in the rate of taxation this year, the rise in the estimated yield is due to the fact that revenue will accrue for the full 12 months from the emergency taxes imposed during the course of last financial year. The return from these taxes in 1940-41 was not a full year’s yield. Less than a third of the total revenue from taxation is being devoted to war purposes, the proportionate rate being about £l2 a head of population.
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Bibliographic details
Southland Times, Issue 24492, 21 July 1941, Page 4
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156HEAVY TAXATION Southland Times, Issue 24492, 21 July 1941, Page 4
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