PRINCIPLES OF TAXATION

Taranaki Daily News, 31 July 1930, Page 11

PRINCIPLES OF TAXATION

BUSINESS PEOPLE’S FUTURE. PRIME MINISTER’S EXPLANATION, By Telegraph.—Press Association. Wellington, Last Night. Th© necessity for taking a wide view of the Government’s taxation proposals was stressed by the Prime Minister in his reply this evening to a deputation. The deputation which represented the wholesale and retail -watchmakers and jewellers of New Zeaand protested against th© increase in the duty on watches if of foreign origin from 20 per cent, to 45 per cent. It was pointed out that watches could not be made in New Zealand under any circumstances and that actually very little watchmaking was done in Great Britain. It was contended that the trade was being unfairly penalised. The object of the Government in bringing down the resolutions, the Prime Minister sadi, was first and foremost to derive more revenue. Th© Government sought also to give preference to British goods and in addition a certain amount of protection to New Zealand’s own industries.

“We cannot ignore the fact,” the Prim© Minister said, “that this country is dependent on Great Britain. We want io sc© that the taxation is placed on the shoulders of the people with as little inconvenience as possible. Everyone must realise that if the finances of New Zealand are not kept in a sound state ■ the business people will suffer in th© long run.

“People perhaps naturally look at things from their own standpoint. They do not seem to realise that they are part and parcel of a bigger concern—the’State. Anyone who has the interests of the country at heart must realise that the unpleasant things must bo faced.”

The Prime Minister promised to consider the representations made by the deputation.