FINE RESPONSE

Timaru Herald, Volume CXLIX, Issue 21971, 24 May 1941, Page 9

FINE RESPONSE

War Weapons Week In London Objective In Sight British Official Wireless (Rec. .8.0 p.m.) RUGBY, May 22. Moving the second reading of the Finance Bill in the House of Commons. the Chancellor ef the Exchequer (Sir Kingsley Wood) referring to London's war weapons week, announced that the total had reached the magnificent figure of £70,250.000, so that already it was within striking distance of the target of £100.000,000. Regarding savings in the country generally, he noted with gratification that the figures of small savings showed a further advance over tha earlier part of the year. Sir Kingsley Wood went on to point out the rapid growth of expenditure was not in itself evidence ol! waste, but rather of growing production. Britain had now reached a rate of expenditure double that o£

last year. The total number of persons who would pay income tax in Britain had now been raised to some 7,800,000 Individuals, and it was no more than bare justice to all of them that every step should be taken to prevent any waste. After dealing with details of tha Finance Bill, the Chancellor referred to the contribution the Dominions and Colonies were making to the war effort outside their own financial spheres. The British Go'Cmment appreciated to the full the magnitude of the measures taken by Canada. Sir Kingsley also paid tribute to the help given by the Colonial Empire in direct financial contribuions and in many other ways. In the debate Sir Frank Sanderson strikingly showed the incidence of income tax and supertax by pointing out that Mr Churchill’s salary ot £lO,OOO became £3160 when deductions were made under those heads, and if it was desired that the Premier should enjoy an actual salary of £lO,OOO, the House of Commons would have to make him a grant of £166,960 a year.