BRITISH POLITICS.

Timaru Herald, Volume 170, Issue 170205, 1 May 1920, Page 2

BRITISH POLITICS.

TAXATION 01? WAR WEALTH.

A BREEZE IN THE HOUSE.

Australian and N.Z. Cable Ansa. iSy iilectrie Telegraph-—rCopyri^uj. LuNiJON,- April 27. Tile Taxation of War l<'ortunes Committee has practically agreed, on a scheme embodying a scale of abatement. in. respect of pre-war wealth of under £25,W0, the abatement wiil be 100 per cent, if £2o,UOJ to £50,W0 3o per cent, and if between £2IA),UUO and £SOO, So per cent. The diminished value of money wiil be taken, into account in -drawing up the final scheme. It- is estimated tha l t £ooo,olKv',lKJU 'nail be forthcoming from. 70,i jOO taxpayers. - There was a lively passage during the discussion of the Colonial Office vote. Sir Newton Moore urged the necessity of ooiiiiinmg security -or tenure for. the natives of Rhodesia. Mr 13. G. Spoor said that, the Labour Party stood for the freedom and equality of native races, the abolition of their economic exploitation and the introduction of education. Sir Newton Moore urged the Government to adopt a more sympathetic attitu'de towards the emigration of exservice men, especially in co-operating with, the dominions in providing financial assistance. He added that if Mr Spoor had made such a speech in South Africa or Australia he would not have won a Labour seat, White Australia w r as the work of the Labour Party, including men like Mr Hughes , and Mr Fisher. ' There were many Labour interrupi tions at the mention of these names. Lord "Winterton shouted to the interrupters: "They fought in the war; they are not Bolsheviks like you."

EXCESS PROFIT'S TAX ADOPTED.

R«ceived 7.50 p.m., April 30th. LONDON, ApriL 29* In tine /Budget debate Mr Terrell moved the rejection of the sxcesa profits duty. Mr Chamberlain -expressed his willingness to consider an alternative, but lie stressed, the necessity .of reducing the vast debt and re-establishing the credit of the country. The motion was negatived by 257 votes to 75 votes. The Corporation Tax wag adopted, Mr Chamberlain intimating that cooperative dividends would: be exempted from the tax. Mr Chamberlain annoiinced that, in order to fuj-fcher provide for the reduction in floating deb'fc new Government 5-15 year 5 per cent, bonds would be "issued at par on May 3.

BRJTALST AND THE WORLD. NEW YORK. April 29. ..'Speafcinig before, the Chamber of Commerce annual meeting ati Atlantic City, Sir Auckland Goddes declared thatfitlier the United States must go to Europe with lieljj in the business way or Europe Tirill come to the United States' to haunt the nation. He declared that the British Empire had troubles, but they are small compared with European troubles. Vast changes, amounting to a revolution, "Rad occurred in England "during the war, and J the ultimate political power in England would rest in the hands of the workers. He told his audience not to beliefe. reports of disagreement existing between England, France, and Italy, adding that he had attended many inter-Allied Conferences, and the reports of disagreements were fantastic. ~ - ' !