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COMPULSORY WAR LOAN CONTRIBUTIONS

The Finance Minister's explanation of the scopo of the new conditions of compulsory subscription to War Loans makes very clear the drastic nature of the amendments recently passed by Parliament. Under the previous Act only thosowitfo incomes over £700 were required to take up War Loan stock or bonds, but now all who pay income tax become liable. Tho safeguards to ensure against oxcessive hardship as explained by Sir Joseph Wakd are satisfactory enough assuming that tho Board of Appeal acts, as no doubt it will act, in a reasonable spirit. A man's income tax, especially in the case of incomes on a. moderate scale, is by no means a sound guide as to his available capital or his ability to provide tho money neccssary to subscribe to a War Loan. His family or business obligations a-re in many cases factors which, influence his position, and we are glad to note that the procedure to bo followed by the Board will allow of these being given full consideration before anything in the nature of a penal step is taken. _ There is one point, however, which the Finance Minister did not touch on which we think he will recognise it is desirable to leave no room for doubt. That is as to the position of Second Division men of moderate means who may be called on for military service. With tho necessity for speeding up reinforcements the Second Division men may be called on somewhat earlier than was expected, but at the same time many of them may possibly be called on to 1 contribute to the War Loan before they ascertain whether or not they are fit for military service. It is obvious that in a great many cases these men will desire to leave such savings as they may possess to meet anj; emergencies which may arise in their family circles while they arc absent on active service. It is clear that men so situated should not be left in any doubt as to the intention of the Government in the matter of their treatment under the compulsory clauses of the War Loan section of the Finance Act. In the case of men of substantial means the matter may be of little importance, but the great majority of the men affected will bo men of small or moderate means, and until they know their fate as to whether or I not they arc to go on active service they should not be called mi tn commit themselves to War Loan obligations which may seriously embarrass them in the adjustment of their affairs. "No doubt Sir Joseph Ward will give this question his

attention ancl devise sonio simple means by which men of moderate incomes liable for active servico will be exempted from the compulsory clauses until they are medically examined. If passed for active service there should be no question of compulsory contribution to the War Loan; if found medically unfit, their cases could then be considered on their merits in the ordinary way.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19180419.2.13

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 11, Issue 180, 19 April 1918, Page 4

Word count
Tapeke kupu
509

COMPULSORY WAR LOAN CONTRIBUTIONS Dominion, Volume 11, Issue 180, 19 April 1918, Page 4

COMPULSORY WAR LOAN CONTRIBUTIONS Dominion, Volume 11, Issue 180, 19 April 1918, Page 4

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