TAXATION OF THE BANKS

Taranaki Daily News, 5 September 1930, Page 9

TAXATION OF THE BANKS

RESTRICTION OF IOS. NOTES

SUGGESTED LIMIT TO DIVIDENDS

QUESTIONS ASKED IN HOUSE.

By Telegraph.—Press Association.

Wellington, Last Night. Replying to Mr. F, Langstone in the House of Representatives to-day, the aeting-Prime Minister, the Hon. E. A. Ransom, said lie had seen references in the Press to the effect that the associated banks had decided to restrict the issue of 10s notes and to increase the charge for keeping accounts, but the Government had received no official advice concerning these matters, The position had therefore not yet been considered by the Government. “I may say, however,” the Minister added, “that every . Section of the community is being called upon to bear increased taxation, find the published balance-sheets of several banks indicate that it is equitable that they should be called on to do their share towards meeting the difficult financial position without further hampering the commercial community or farmers of the Dominion. I may say that I hate already asked the chairman of the associated banks for particulars of their intentions, and when all the necessary information is available the Government will consider whether any\further action should- be taken.

Mr. Ransom said Mr. Langstone’s suggestion that banking dividends should be limited and the ’.undistributed pfbflts should be taxed' wOuld receive consideration by the Government.