STAGGERING BLOW

Sun (Auckland), Volume III, Issue 828, 23 November 1929, Page 9

STAGGERING BLOW

NEW FEDERAL BUDGET'S EFFECT LIVING COST RAISED SVDNEV, Friday. 1 he Federal Government's new tariff duties have dealt a staggering blow to British industries and will necessarily raise the cost of living in Australia. The duties on whisky, brandy, rum, gin and other spirits have been increased 8s a gallon. Very heavy increases are imposed on imported Cigarettes, cigars, felts, furs, white lead and varnishes. I he duty on white timber for boxmaking has been increased 7s a 100 superficial toot. and on dressed timber Ss. Prohibitive duties are imposed on imported socks and stockings. In some cases the duties are doubled. The foreign rate on matches is one Instance. "The Suit” says this extra £-,ot>t>,ooo a year extorted by Mr K G. Theodore, the Federal Treasurer, by way of new taxation represents a tux of 5 per cent, on €-10,000,000 of tile country's industrial income, and is bound to result in additional unemployment. The average amount of taxation paid by 8,169 companies in Australia in the past -was £325 12s lid: the average amount payable under the new schedule xvill be increased by £65 2s 7d to £390 15s Od. Mr. Theodore presented his Budget speech without warning at 10.28 p.m. when the business of the Mouse was proceeding drowsily to what everyone supposed would be an early close. Tile Press was not supplied with details beforehand as has been the practice in (he past. Most of (he telegraph operators had gone off duty. The result was a hectic time of rounding up the telegraphists from their homes while journalists feverishly prepared their messages from printed copies provided after the speech had been begun. To crown all, tile pneumatic chute from the Press Gallery to the telegraph office became jammed, causing further delay. The Budget taxes are hardly more unpopular among businessmen than is the announcer, Mr. Theodore, today among the Parliamentary journalists.