PARLIAMENT

Hokitika Guardian, 14 October 1931, Page 4

PARLIAMENT

THE HOUSE. /By Telegraph—Per Press Association, WELLINGTON, October 14. In the House of Representatives the debate on the Supplementary Financial Statement was initiated by Hon. Downie Stewart, formally mo vine the paper be referred to Government for consideration. Tile Leader of the Opposition contended that in view of the nature of the supplementary budget, which represented a complete reversal of policy on the part of the United Party and a partial reversal of policy on the part of the Refom Party, that it would have been a. fair thing for the people to have been given an opportunity of declaring upon it before it wa.s put into effect. He asked whether it would not have been a correct line of procedure for the Coalition Government to have taken this policy to the country and enabled the electors to express an opinion upon it. Hon. Jo'-es expressed the opinion that the Supplemntary Budget had been received with general satisfaction throughout the country and the confidence' that had been shown generally since the statement was made, justified the Government in taking a considerable amount of credit for it. The debate was interrupted and will be continued to-day. Laud and Income Tax Amendment Bill and Land and Income Tax Annual Bill were introduced by Governor-Gen-eral’s message. Replying to the Leader of the Opposition, Mr Stewart said the Amendment Bill was a very short one consisting almost entirely of the provisions forecasted in the supplementary budget. Them was also one provision from the niaiin budget namely, a clause relating, to lowering the exemption in connection with the payment of income tax. Mr Fraser asked Mr 'Stewart whether ho had not thought hotter about some of the proposals in the supplementary budget. For instance, the abolition of the graduated land tax which would mean enormous concessions to wealthy | land owners.

Mr Stewart said he had thought the Labour Party, above all, would have supported the substitution of incometax for the graduated land tax. He had thought it would have agreed that it was just to tax those who had incomes on which to pay, rather than those who jn the last two years had suffered heavy losses which had to be met by payments out of capital. Replying to Mr Savage, Mr Stewart said the Land and Income Tax Annual Bill was simply the usual measure, modified of course, 'in accordance with the proposals of the budget by reference to supertax on investments, incomes etc.

Both Bills were rend a first time and the House rose at 10.30 p.m.