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Hokitika Guardian, 5 August 1920, Page 2

Tue debate on the Financial Statement began well. The opening speeches stuck mainly to the .bare question of finance. Incidentally the first speakers who represented the Liberal and Reform sides of the House emphasised the difference between the two parties in regard to the main source of revenue. Mr Wilford emphasised what the Liberals stood for, the Taxation of land, large incomes and deceased persons estates. The land tax, the Liberals have striven for, is the graduated tax oil the unimproved values with the object of bursting up the large estates. In regard to incomes etc., those on the high grade should certainly bear, the brunt of the incidence. Also, the customs tarit should be reviewed this year for two purposes—to give relic tin regard to the cost of living, and to increase the taxation oil luxuries. Mr Wilford emphasised that if Mr Massey had kept his election pledge and called Parliament together in February, the revision of the Customs tariff could have been taken up and done satisfactorily. Mr Wilford touched only briefly on the defence expenditure, but he suggested a sane naval policy—in regard to which, however t»hcr© must l>e consultation with the Home authorities and a recognised plan of Imperial action for the common defence of the Empire. In defence, all parts of the Empire must stand to getlier, and so they must Work together. Mr Nosworthy was weak in his criticism of the Liberals taxation proposals. He haa been a jopg tjine ip waking up to whaf was the cardinal difference between the two main political parties. Taxation is great at present, put flip point is, (s ft .equitably distributed? Do- those reaping the profit* pay an adequate sum P An increase hist year of only £45,210 in the land tax after all the millions which came out of the land, was insignificant. So also was the small increase of £151,000 in (lie income tax after the enormous wealth "derived within the Dominion. Here then is a fundamental difference between the two main political parties, and it is the need for a healing b-alm which will continue to keep them on rival political honcho*.