INCREASED COST OF THE ARMY

Colonist, Volume LV, Issue 13736, 30 May 1913, Page 5

INCREASED COST OF THE ARMY

LEVY UPON INCOMES.

PLACATING THE SOCIALISTS

Paris, May 28

With a view to conciliating the Socialists tho Government has introduced a Progressive Income Tax Bill to cover tho interest and redemption of the £40,000,000 military loan, commencing in January, 1915. It imposes a 1 per sent tax on incomes up to £2000, 2 per cent up to £4000, and 3 per cent above £4000.

The first £400 of income is to bo exempt, and there is a further exemption of i' !0 ]>er child under 16, or parents or grandparent over 70 dependent on tho taxpayer. The total yield is estimated at £2,800,000.

Tho Chamber voted the first year's expense of retaining time-expired soldierg with the colours.