NO MORE TAXES

Waikato Times, Volume 126, Issue 21036, 12 February 1940, Page 8

NO MORE TAXES

NEW ZEALAND FINANCES INTENTIONS OF GOVERNMENT STATEMENT BY MR NASH (By Telegraph.—Press Association) AUCKLAND, Monday The Minister of Finance, the Hon. W. Nash, said that the next financial year’s Budget was not yet completed, but no further taxation was contemplated for the present financial year. Asked to what extent petrol rationing would offset the revenue expected from the extra 4d tax imposed by the last Budget as a defence tax, Mr Nash said that 30 per cent was the estimated percentage of curtailment in the use of petrol. The amount was at present not known. Asked whether the prohibition of the importation of American motorcars and the limitation of English models to a small percentage of last year’s figures would cause unemployment in the motor as|:mbly plants at the Hutt, Mr Nash said that if New Zealand imported parts for 30 per cent only of cars previously imported it was unlikely that the same number of men would be employed, but there should be alternative employment available. Social Security Mr Nash said that any interference with the Social Security Act provisions had not been considered The estimated extra cost of universal superannuation during the next year was not yet available. Speaking of the Government's negotiations with Great Britain for the sale of New Zealand’s primary produce, Mr Nash said they were practically completed, but might be extended at any time if desired by the United Kingdom Government. So far this season, from the time the new procedure of purchase was started until January 22, the total sterling credits received from the United Kingdom Government by the New Zealand Government was £12,459,000. Alleged Broken Promise Asked if he had any reply to make to the statement of Mr W. W. Mulholland, president of the New Zealand Farmers’ Union, that the Minister had broken a definite promise in introducing State purchase of hides, having promised that anything not requisitioned by Great Britain would be left a free market, Mr Nash said he intended to make a full reply later in the week.