TAXATION DRIVE
BRITISH INCOMES MANY NEW ASSESSMENTS CRISIS IN MANY HOMES (By Telegraph—Press Association—Copyright) Received Nov. 25, 10.50 p.m. LONDON, Nov. 25. Four million people received a shock this week on the arrival of income tax assessments. Two million of these uro new taxpayers whose small incomes have hitherto escaped the levy’. An unprecedented drive is being inaugurated to collect as much as possible in January in order to save interest on Government borrowing. Tho public thoroughly understand the nr cssities of the situation, and arc anxious to support the Government, but tho demands have caused a crisis in thousands of homes and businesses. Certainly the result will be the quietest Christmas on record. Between now and the end of Afarch 2259,750,000 must be collected, of which £205,000,000 is income tax and £54,750,000 surtax. The withdrawal of such huge sums must inevitably involve prolonged suspension of spending. City editors express the opinion that the demands arc already the cause of a, large number of selling orders for the purpose of meeting obligations.
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Bibliographic details
Wanganui Chronicle, Volume 74, Issue 280, 26 November 1931, Page 7
Word Count
172TAXATION DRIVE Wanganui Chronicle, Volume 74, Issue 280, 26 November 1931, Page 7
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