TAXATION QUESTIONS.

Colonist, Volume LVII, Issue 13859, 30 August 1915, Page 4

TAXATION QUESTIONS.

WHAT ABOUT EXISTING OIL

STOCKS?

GOVERNMENT WILL PREVENT

EXPLOITATION

(From ovv. own Correspondent.)

Wellington, August 27

The taation proposals to meet w.ir needs were responsible for a number of inquiries to members of tlie Government this afternoon. . , The member for Egmont led off by asking the Minister of Customs whether he would cause investigation to be made into the stocks of benzine, kerosene, petrol and other motor spirits at present in merchants' stores on which no duty will he paid. Mr Wilkinson asked further if the Minister would also see that no increase of pric© takes place until the present stocks are consumed, so that the public may not be exploited. Hon. A. M. Myers answered that ho realised the importance of the question, and he would be very pleased to give it every consideration. In reply to a similar question from Mr. Nosworthy, The Minister of Finance. (Sir Joseph Ward) stated that the House would be asked for the necessary steps to prevent the" people from being exploited. It was quite right that an article shoulc bear the additional duty that had been placed on it, but if hold ens of petroleum and similar articles thought the Government were going to stand by and allow them to make huge profits out of the people of this country because the necessities of war required immediate taxation, they would, find' themselves very much mistaken. He would be only too pleased to hear from members of any instances of that kind, and he would be also glad , to bring the matter before the Government with the view of introducing legislation. Dr. Newman inquired when the extra stamp duties would come into force. Sir Joseph Ward assured the House that nothing except the articles that were affected by the Customs, and which by the previous night's resolution were now paying the increase, would be altered until the necessary legislation was passed. Alterations in Post Office charges, extra stamp duty, or any other proposed alteration^, including, of course, those applying to cheques and receipts, could not take place until Parliament had sanctioned them by Act. Sir Joseph added that after legislation had beep passed he would at the right time indicate publicly when the alterations would como into force, so that no one might be misled. ■ : Mr. Payne said he understood that i the American Oil Company- had no i fewer than 50,000 cases of oil in store, representing under this increased duty a'further profit of over £7000. He asked, therefore, whether the Govern-: merit would declare such store:-} an oil bond: Sir Joseph Ward: I shall he very glad to cortsk'er whether the House should not be asked.to give authority enabling us to have stocks taken and to pass. legislation ■ on. the subject so that no unfair profits shall be made on these stocks. . t In answer to a question from Mr Anderson on the subject of releasing oats for export, ■ | Mr. Myers said that, although at the present time it was deemed desirable; to allow no oa.ts to be exported esc-ent to 'Anptralia for Defence-purposes, he. realised that the whole matter requir-; ed reviewing, and he hoped within the j next few days" to come to a definite j conclusion on the subject. ! Dr. Thacker pointed out that the c'rain upon band instruments v.-ns hecoming heavy, owing to the military reinforcements wanting bands to go away with then,. He. suggested therefore' that, as such instrument*? were not made in this country, the duty on them ought to be relaxed for the time being. Mr. Myers replied that he would bo very pleased to place the suggestion "before the Government.