THOUGHTS FOR THE TIMES
THE WEIGHT OF TAXATION
.Just what taxation means to British industry can best be realised by the recent statement of one of its most prominent economist's. He said that compared with Germany, which cleared off its huge internal war debt by watering its currency. France, which depreciated the franc from 25 to tho £ to 123 to the £, ’ and the United States, which lias no internal debt worth mentioning. English manufacture and commerce are loaded wten a charge of 6s in the £. In other words, this is tho price Brit-sh industry has to pay for Britain honouring its bonds and paying 20s in tho £. No wonder, therefore, foreign products are able to undercut British in many of tlie markets of the world, and in the free markets of Great Britain itself. It is a terrible handicap.
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Hokitika Guardian, 21 January 1931, Page 4
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139THOUGHTS FOR THE TIMES Hokitika Guardian, 21 January 1931, Page 4
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