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INCREASE IN TAXES.

LABOUR CAUCUS PROPOSALS. BETTING AND WAGES. 'UNITED PUESS ASSOCIATION—BY ELECTRIC TELEGHAPH—COPYRIGHT.) (Received November 28th, 10.50 p.m.) SYDNEY, November 28. The New South Wales Labour Caucus to-day approved of plans to impose a tax of ten per cent, on winning bets, also to raise the wages tax for unemployment from threepence to one shilling in the pound. It was estimated that the betting tax would yield an annual revenue of £2,000,000, to be deducted by bookmakers from the sums payable to their clients, a similar deduction to be made from the totalisator dividends. It is expected that the new tax on salaries and wages will yield over £ 6,000,000, which, with the betting tax, will make £8,000,000.

CENTRAL RESERVE BANK. COMMITTEE DENOUNCES THE BILL. (Received November 2Sth, S.oO p.m.; CANBERRA, November 28. In the House of Representatives, the Jncome Tax Assessment Bill was passed. The report of the Senate Select Committee on the Central Reserve Bank Bill, sponsored by Mr Theodore, denounces tlic measure as making possible the exercise of undue political influence and the adoption of unsound practices. Drastic amendments are recommended by tho Committee.

PROPOSED GOLD BONUS. LONDON COMMENT. (Received November 28th, 11.50 p.m.) LONDON, November 28. Roforring to the proposed Australian gold bonus, the "Duily Telegraph's" City editor says: "The advantage of a gold bonus to mining companies is ot vious, but what return the Government will get for paying 105s per ounce for gold which cannot bo worth more than Sfi.s overseas, is not clear." SUPPLY BILL PASSED. (Received November 2St.h, 9.50 p.m.) SYDNEY, November 28. In the Legislative Assembly, a Supply Bill for £13,246,000 was passed. BASIC WAGE ENQUIRY. (Received November 28th, 9.50 p.m.) CANBERRA, November 28. The Commonwealth Statistician, Mr C. H. Wiekens, has been appointed a Royal Commissioner to enquire into the basic wage for a man, his wife, and three children.

OFFICE OF AGENT-GENERAL SIR GEORGE FULLER'S SUCCESSOR v (Received November 29th, 1.25 a.m.) SYDNEY, November 28. The term of office of the AgentGeneral, Sir George Fuller, is expiring short!}'. It is understood that Mr A. C. Willis, Vice-President of the Executive Council, ■will be his successor. DANGERS OF INFLATION. FRENCH EXPERT'S OPINION. SYDNEY, November 28. The manager of the Comptoir National Descompte de Paris and vicepresident of the French Chamber of Commerce, M. A. Spitzer, has arrived in Sydney. Hie said Australia had bright prospects of raising money abroad when Mr J. H Scullin (Prime Minister) arrived in England, but the actions ot the extreme wing of the Party had done much to destroy the country's credit. France had learnt her lesson regarding inflation. The advantages di7i not last very long, and then the country would find itself in a worse state than before. POSITION IN NEW SOUTH WALES. FORMER TREASURER'S EXPLANATION. SYDNEY, November 28. Mr B. S. B. Stevens (who was Treasurer in the Bavin Ministry) points out that Mr J. T. Lang's statement that there was a deficit of approximately £15,000,000 in the Treasurer's cash account when he assumed office, was calculated to confuse the public mind and misrepresent the position. It would also prejudice Australia's credit abroad. Tho Bavin Government had told the people the truth about the position. The sum of £12,000,000* was owing, in August, and since then it had been impossible for either the Commonwealth or State Governments to secure loan accommodation. Distorted statements, designed to place the blame on the Nationalists, would not assist matters. Restricted loan expenditure a" a drastic economy offered the only hope of salvation.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/CHP19301129.2.98

Bibliographic details
Ngā taipitopito pukapuka

Press, Volume LXVI, Issue 20098, 29 November 1930, Page 15

Word count
Tapeke kupu
585

INCREASE IN TAXES. Press, Volume LXVI, Issue 20098, 29 November 1930, Page 15

INCREASE IN TAXES. Press, Volume LXVI, Issue 20098, 29 November 1930, Page 15

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