MUNICIPAL DEBENTURES.
QUESTION OF RAISING TAX. (By Wire—Parliamentary Reporter.) Wellington, Last Night. In the House to-day, Mr. J. McCombs (Lyttelton) suggested that as the proposed tax on municipal debentures was likely to hamper local bodies in the raising of moneys they required, the Prime Minister ought to make some announcement with a view to easing the position. Mr. Massey said he thought that when the local bodies saw the Bill they would have no cause for complaint, or at any rate very little cause for complaint. The debenture tax at present was a flat rate of 2s Od, and he did not think that by an increase of the tax l to 3s the financial position of local bodies would be affected. It might not be a. disadvantage to local bodies if their borrowing operations were checked for a little time, added Mr. Massey. They were asking at the present time for many njillions, and lie was quite certain that if they got the money they could not' spend it to advantage just now. ,
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Taranaki Daily News, 22 September 1920, Page 5
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174MUNICIPAL DEBENTURES. Taranaki Daily News, 22 September 1920, Page 5
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