THE TAX-PAYER'S MAIN HOPE

Hokitika Guardian, 26 November 1928, Page 8

THE TAX-PAYER'S MAIN HOPE

“The main hope of taxpayer is in an increase of national productivity. This is bound to happen in the long run. A new industrial revolution is upon us, which, has untold possibilities It is no vain expectation that in the next fifty years the national product will multiply fourfold. Every such increase- reduces proportionately the burden of taxation. It is an interest ing fact that the proportion of national taxation to national income is just the same as it was a hundred raising a larger proportion of national revenue from the taxation of income and property is likely to continue and .1 expect, in particular, to see the estate duties being called upon to make a still larger contribution. The future of national expenditure depends in the mam upon the maintenance of international peace. That issue: is not in the lap of the gods. It is in the hands of the people themselves. I am, not a pessimist as to the future of this ycountry. We have stood the shock of the (Meat War with marvellous strength. The wonucr is not that our national finances and trade aro burdened, hut that our national munition is not infinitely worse.—“Mr Snowden in “Fifty Years of National Expenditure and Taxation.” published in “The Statist.”