Heavy Taxes Are Brake On Production
Received Monday, 7 p.m. LONDON, Jan. 17. In" a letter to the (Chancellor of the Kxch equer, Sir .Stafford Oripps, the Association of British Ohanibers of Commerce urges that a special commit tee sliould be appointed to report to Parliament upon the econoriiic conse- ' quences of the Government 's present. taxation policy. "The'* total expenditiire- of the 'Government is niore thaii the nation can alford at the present v.olume of production," states the letter. r " Tliis; feeling.is based not so much ou the belief that it is uiisound for 'the ^Government to spend more than 00 per cent. of the national inconie, as on the convictioii that the extraction ot so lrtucli 'money ■'fronr theM'Rrome»»producers, is killing the production of inconie." The letter points out that, by general agreement. the mos't e'ffective means of. lncreasing producfdvity tand making Britain independent of overseas Joans, is to provide capital to incTease industriul mechanisation. This, the association eontends, indust rialists cahnot do at present levels of taxation. It asks for a eomplete revision of the purehasetax»and a inodification of the proiits tax.
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Chronicle (Levin), 18 January 1949, Page 5
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185Heavy Taxes Are Brake On Production Chronicle (Levin), 18 January 1949, Page 5
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