BUSINESS ON UP-GRADE?

Taranaki Daily News, 5 September 1935, Page 4

BUSINESS ON UP-GRADE?

TAX YIELDS INCREASING FIGURES FOR NEW PLYMOUTH. VARYING OPINIONS EXPRESSED. HARBOUR BOARD GRATIFIED. To ascertain the reasons for a remarkable increase in the amount of Customs duty, petrol tax and sales tax collected at' New Plymouth since the beginning of the year, several business men were interviewed yesterday. Their answers were varying. Statements by one person that business was definitely on the upgrade and prospects of the brightest were contradicted by another who declared that “business generally, was holding its own.” The increase in Customs duties since January 1 amounted, at the end of August, to £8193, the petrol to £4290 and the sales to £1568. The excise duty, which has shown a decline of £9OB, is the only one of the State taxations to have decreased. Compared on a percentage basis the increases under the first three headings are considerably higher than the figures for Auckland and Wellington. Mr. C. E. Bellringer, chairman of the New Plymouth Harbour Board, when approached for an official explanation, said that it was impossible, until a year’s figures had been obtained, to give the reason for the increase, for shipments were liable to be greater in one month than in the next. He did know, said Mr. Belkinger, that considerably more fertiliser imports had been made this year in comparison with last, when slightly more than 2000 tons were landed. So far this year, the total had reached more than 5000, accounting to a certain extent for the rise in Customs duties. The problem of the increase was, however, extremely complicated and he preferred not to make statements which might prove incorrect. It was satisfactory, however, to know that increases were being recorded and. that a larger percentage of goods was being landed, direct at New Plymouth than formerly. A merchant interviewed was emphatic that the increase in the sales tax was a reflection, not only of greater confidence on the part of wholesalers and retailers, but also of the people. The general public, in his opinion, was spending considerably more than formerly and had decided to depart from the custom of the last three or four years of conscientious saving. The low bank rates of interest, the fact that investments were liable to be frozen for several years and that thrift was apt to become annoying in its demands for quiet living were considered to be reasons why the public was spending more than formerly. His optimistic view was not shared by retailers approached for their views. One said that a reason for the increase in Customs was the fact that imports had been made before the usual time and he considered that the increase would not be so marked towards the end of the year. Another considered that the effects of the high exchange over the last few years had deterred retailers from replenishing stocks. Now that the exchange appeared to be stabilised, they were forced to replenish low supplies, the policy of buying in New Zealand having proved of doubtful value in several instances.