AUSTRALIAN BUDGET FORECASTS; HIGHER POSTAGE & PROFITS TAX
CANBERRA. Oct 5 (Recd 6 pm).— Budget forecasts, predict raised postal and telephone rates and an excess profits tax on companies. The basic Australian letter postage rate will be increased from 2id to 3d. Letter and telephone, telegraph and air mail rates will also rise to meet a poet office deficiency of £2,500,000 a year.
It is learned authoritatively that details of the super profits tax will not be announced in the Budget, which will merely enunciate the principle to be folowed by the Government. The experts are now studying methods of implementing the tax, which is regarded as a move to counter inflation and to meet woolgrowers’ complaints that they are the only section of the community asked to make sacrifices.
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Wanganui Chronicle, 6 October 1950, Page 5
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129AUSTRALIAN BUDGET FORECASTS; HIGHER POSTAGE & PROFITS TAX Wanganui Chronicle, 6 October 1950, Page 5
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