TAX ON PROFITS DEFENDED

Hawke's Bay Herald-Tribune, Issue 81, 22 April 1937, Page 5

TAX ON PROFITS DEFENDED

(British Official Wirelesa.)

Peace Must Come First, Says ' Mr Chamberlain 6R0ADCAST ADDRESS

(Beceived 22, 11.55 a.m.) BUGBY, April 21. The national defence contribution provided for in the Budget was mencioned in a broadcast talk by the Chancellor Of the Exchequer, Mr Neville Chamberlain. "It is not that I consider the profits now happily being earned by trade and industry to be excessive," said Mr Chamberlain. "The depression, while it lasted, was very intense and not only did shareholders go without dividends but in many caaes they lost a great part of their capital as well. "In. those circumstances, it is all to the good that they should have been able to recoup some of their losses and rc-equip their factories so as to be able to meet competition in exports markets. But, now that we have to find this exceptionally large sum f or defence in a comparatively short time, I do uot think it unreasonable to ask that businessee which hre doing so much better should make a special and terfiporary contribution to the cost of national defenae" .After declaring that the maintenance of peace was worth more than any reducticn in taxation and that a strong Britain was tha surest guarantee that peace would be preserved, Mr Chamberlain ccncluded: "Per hapa some day when this madness of arming is over a puccessor of mine nlay have the good fortune to be given the opportunity to remit this taxation. Let us pjray that that day may come soon."