Thank you for correcting the text in this article. Your corrections improve Papers Past searches for everyone. See the latest corrections.

This article contains searchable text which was automatically generated and may contain errors. Join the community and correct any errors you spot to help us improve Papers Past.

Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image
Article image

THE WAR LOAN

MAKING UP THE DEFICIENCY

THE APPLICATION OF COMPULSION

"Having regard to the deficiency of .£2,000,000 in the subscriptions to the War Loan, does the Minister of Finance anticipate that by 'bringing into operation the compulsory clauses of the Finance Act he will e-ocure an amount sufficient to make up the deficiency?" asked the Hon. A. M. Myers (Auckland East) in the House of Representatives yesterday. "It is not possible for. me to say -until, we try," replied Sir James Allen. Mr. Myers: Have you had an estimate made?! Sir James Allen: We have hud nit estimate, made of the total, but a good many people have subscribed beyond th® compulsory amount. I think I can assure the honourable member, as I have done before, that tlio loan will be all ri<rht. Mr. J. Anstey (Waitaki) stated that the demand for subscriptions to tho War Loan was going to press heavily on some business men , who had already strained, their resources in order to pay the very: heavy war taxation. Ho asked if the Minister of Finance would take etops to compel persons who had large incomes ami had not paid taxation to subscribe before applying compulsion to the men. who- had paid tho taxes. Tho Minister of Finance (Sir James Allen) said he did not know to whom the member alluded. He did not know of. any persone who had large incomes and did not pay income tax or land tax. The •xunpulsory clauses provided that taxpayers had to snlecribo three times the average of their income tax for the last three years. Mr. Anstey! I am asking about those people who don't pay any tax. Sir James Allen: Those are people with! small means. The compulsory dances ore not intended for them. . Mr. Anstey: Investors in war loans don't, pay any tax. Mr. L. M. Isitt (Christchurch North) referred to the same subject later. He eaid the people who should be forced to subscribe were the people who were draw, ing large tax-free incomes from invest, nients in war loans. Would they be brought within tho compulsory provi. sionsi?

Tho Minister said the point would require very careful consideration. Hβ suggested that a. question should be placed oa the Order Paper.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19191016.2.24

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 13, Issue 18, 16 October 1919, Page 4

Word count
Tapeke kupu
375

THE WAR LOAN Dominion, Volume 13, Issue 18, 16 October 1919, Page 4

THE WAR LOAN Dominion, Volume 13, Issue 18, 16 October 1919, Page 4

Help

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert