CAPITAL LEVY

Dominion, Volume 12, Issue 212, 2 June 1919, Page 5

CAPITAL LEVY

AND IMPERIAL PREFERENCE. (R-ee. June 1, 11.5 p.m.) London, May 20 (delayed). Sir Donald Maclean, speaking in the Houso of Commons, urgpu the appointment of a committee to inquire into the proposed capital levy, and provide data for a decision before tho next Budget. Ho regarded the Imperial preference proposals a3 an anaemic effort, and hoped the Chancellor would gather courage to introduce a scheme of more lasting importance to tho whole Empire.—Aus.-N.Z. Cable Asn, (Rec. June 2, 0.80 a.m.) London, June 1. Mr. H. D. Acland, in tho Houso of Commons, moved the rejection of the Finance Bill, objecting to the preferential tariffs and tho reduction of the excess profits tax without a similar reduction of the workers'* income tax, and also to tho failure of the Government to intraduce a capital levy. Mr. Austen Chamberlain defended the preference clauses and said that Britain derived her advnntngo by the existing Dominions' preference. He condemned the capital levy, which would create a feeling of fear and insecurity among those to whom they must appeal to put tho country's iinanco on a sound footing. Ho hoped 'that the Allies by ID2O woulrt ho in a position to shoulder some of their debts, and also that their onomiM would begin to make contributions. Mr. J. R. Clyncs said that taxation alone could not carry the immense waiburdens. He repudiated tho idea that friendship with tho Dominions would bft improved by preference. It would give some colonial traders vast profits.—Aus.. N.Z. Coble Assa*