PROFIT TAX WITHDRAWN
To Be Replaced By More Simple Measure (British Official Wireleaa.) (Beceived 2, 12.30 p.m.) EUGBY, June 1. The Prime Minister in the House of Commons announced the withdrawal of the proposed national defence contribution under which ho proposed to make a graduated tax on tho growtli of profits. Mr. Chamberlain said that he had" to admit that therq appeared to be genuine alarm over the rneaswo, aua in the meantime ho would work out otker proposals for a simpler tax upon profits of industry, designed to produce not less than £25,000,000. The Leader of tlie Opposition, Major Attlee, said that the House should recall that they had a Government that was responsive to the will of a democratically elected assembly. The Prime Minister will wind up the debate on tlie second reading of the Finance Bill in the House of Commons this evening. The important part of his speech will be devoted to replying to the objection raised to the proposais ior the national defence eontribution
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https://paperspast.natlib.govt.nz/newspapers/HBHETR19370602.2.38
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Hawke's Bay Herald-Tribune, Issue 116, 2 June 1937, Page 5
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169PROFIT TAX WITHDRAWN Hawke's Bay Herald-Tribune, Issue 116, 2 June 1937, Page 5
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