"WILL PRESS HEAVILY"
(By Telegraph.) (Special to "The Evening Post.") CHRISTCHTJRCH, This Day. Commenting on the additional taxation measures, the "Christehurch Times" says:— "Interest will at once centre on the sales tax, as it is something new in Dominion finance and likely to be- as ir&jome here as it has proved to bo in Australia and Canada. Whatever may be said about the' effect of high exchange rates on the cost of living, there can be, no doubt at all that the sales tax Tvill press heavily on those least able to bear it. It is estimated that the yield of the sales tax might be £ 1,000,000,, and Mr. Coates put it at £1,500,000, but unless the confident claim that the high exchange is going to have a 'beneficial effect on every man, woman, and child throughout the country' is realised, it is probable that the failure of this source of revenue to reach the estimate will add to the deficit in the national accounts. The taxation announced probably is along the lines of general expectations. The pity is that despite this addition to the burden of the taxpayer the Dominion will still be far from balancing its Budget."
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Bibliographic details
Evening Post, Volume CXV, Issue 33, 9 February 1933, Page 12
Word Count
199"WILL PRESS HEAVILY" Evening Post, Volume CXV, Issue 33, 9 February 1933, Page 12
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