ALL FOR WAR

Evening Star, Issue 23699, 5 October 1940, Page 10

ALL FOR WAR

PROCEEDS OF THE LOAM MINISTER'S EMPHATIC ASSURANCE 18,000 TAXPAYERS LIABLE [From Our Parliamentary Reporter.] WELLINGTON, October 4. “ Every bit of this money will be used for war purposes,” was the emphatic assurance ot the Minister of Finance, when lie concluded the debate on the compulsory loan in the House. He was answering suggestions that part of the £B,OUO,OOU expected to be raised in this way would be applied to public works, and he had been asked by the Leader of the Opposition if he agreed with the statement of the Minister of Supply that the money not needed for war purposes would be devoted to other needs. The Government, said Mr Hamilton, was borowing £8.000,000 when it needed only £3,630,000. ‘‘ Every bit of this money will be used for war purposes in this country,” interjected the Minister of Finance. “ The people would not submit to a £15.000,000 compulsory loan for public works,” commented Mr Hamilton. The Minister of Finance emphatically justified compulsion in borrowing money for defence. “ I will not argue, but it will be fair, he said. “If someone has control of goods expressed in the form of money, and it is required for defence purposes, we are not going to argue with them for five minutes. We have to defend this country, and the only way 1 is to take the goods necessary or transfer the money into the necessary goods.” Opposition members: No objection to that.

Mr Nash ; All right then. There is no objection to this loan. Mr Kyle; How are you going to raise £15.000.000 for public works? ; The Minister: Each in its turn will come, and the public will be asked to determine what they will do.

Several Opposition members inquired how many taxpayers were liable to make compulsory loan subscriptions. The Minister stated that he believed the total was slightly over 18.000 taxpayers, of whom 15.000 were individuals and 3,000 were companies.