CHAMBER OF COMMERCE VIEW
The members: of the council of the Wellington Chamber of Commerce after listening to the broadcast of the Budget last night, went into committee to consider the proposals of the Government, and subsequently issued the following statement:— , "It is altogether too early yet to absorb the many very important matters covered in the Budget, which i^ undoubtedly a comprehensive and able statement in line with the declared policy of the Government. The apprehension which existed among the commercial community as to the possible effect of the Budget has not been allayed by the announcements of the Minister. The expenditure of an additional £4,750,000 is apparently to be met largely by two sections, of the community—^those in the possession of ordinary and high incomes and by the large land owners of the country. "It is to be hoped that graduated land tax will not be made to apply to urban lands, which are subject in. normal course to heavy rates and taxes sufficient to prevent the withholding of such lands from full economic use.
"Many suggestions in the Budget are commendable and in the general interests of the community, but the.Budget proposals for increases in education, school, accommodation, and transport by £655,000, in health by £147,000, and in pensions by £1,750,000, praiseworthy as they may be, mean enormous demands on the taxation possibilities of'the country.
"The expenditure of so large a sum as £10,000,000 on public works will be looked upon with alarm, but the announced policy of the -Government in regard to the League of Nations and its decision to overhaul thoroughly the defence system of the Dominion will be generally commended.
"As there is no precedent for many of the points dealt with in the Budget and as their repercussions will affect the commercial community and the primary producers materially, it is not possible to make a full statement in comment until a full study can be made of the many questions involved."
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Bibliographic details
Evening Post, Volume CXXII, Issue 31, 5 August 1936, Page 12
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328CHAMBER OF COMMERCE VIEW Evening Post, Volume CXXII, Issue 31, 5 August 1936, Page 12
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