“PAY AS YOU GO”
NEW INCOME TAX SCHEME (Received Sept. 24, noon) LONDON, Sept. 23 Ten million wage-earners in Britain will soon be paying their income tax weekly. Only 3,000,000 taxpayers are not affected by the new “Pay as you go” plan, which operates from April 6, 1944. The plan will apply to any person whose wage is calculated and paid weekly, whether or not he is a manual worker. Professional men and others engaged at a yearly salary but paid weekly will be included. Theoretically the Treasury stands to lose £250,000,000 because the new plan means “forgiving” part of the income tax which should be paid early in 1944. Any loss, however, will be offset by the gain of the immediate payments of the tax in the case of new workers and of earlier payments on rising earnings. The press generally welcomes the scheme, mainly on the grounds of its simplicity and ingenuity. The plan also has the support of the Employers’ Confederation and the Trades Union Congress.
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Bibliographic details
Waikato Times, Volume 132, Issue 22151, 24 September 1943, Page 5
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169“PAY AS YOU GO” Waikato Times, Volume 132, Issue 22151, 24 September 1943, Page 5
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