THE CAPITAL LEVY
$ PROPOSAL IN HOUSE OF COMMONS DEJECTED. (Rec. February 18, 0.30 a.m.) London, February IV. In tho House of Commons, Sir Donald Mac Lean moved that the Government should cause inquiry to be made into the practicability of taxing war-time increases to wealth, and the practicability ot' a capital levy for tho purpose of reducing the National Debt. The Chancellor of the Exchequer, Mr. Austen Chamberlain, thought tho idea of a capital levy would strike a blow at the employment of capital for the expansion of and the encouragement of saving. lie thought the signs of the tiroes lvero reassuring; trade- was good awl exports were reviving. The heavy fall in the American exchange was a great bounty to the export trade in diverting orders which otherwiso would never have reached us. Full advantage should be taken of that 'bv extending the means of production to the furthermost. He deprecated rash experiments tgainst sano methods of financial recuperation. Sir Donald MocLean's proposal was re-jected.—Aus.-tJ.Z. Cable Assn.
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Dominion, Volume 13, Issue 123, 18 February 1920, Page 7
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168THE CAPITAL LEVY Dominion, Volume 13, Issue 123, 18 February 1920, Page 7
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