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BRITISH POLICY

ENORMOUS TAXATION. A SHOCK IN BRITAIN. (United Press Association.—By Electric Telegraph.—Copyright.) LONDON, November 25. Four million people have received a shock this week on the arrival of income tax assessments for them. Two million of these are new taxpayers, whose incomes are small,'- and who hitherto have escaped a levy. An unprecedented drive is being inaugurated to collect- as much income tax as possible by January. This is in order to save interest on the Government’s borrowings. The public thoroughly understand the necessities of the situation, and are anxious to support the Government, hut the demands made have caused a crisis in thousands of homes, and of businesses.

Certainly the result will be the quietest Christmas on record in Britain. Between now and the end of March, £250,750,000 must he collected, of which two hundred and five millions is income tax, and £54,750,000 is surtax. The withdrawal of such huge sums of money will inevitably involve a prolonged suspension of Spending. The newspapers’ City Editors express the opinion that the demands already are the cause of a large number of selling orders for the purpose of meeting the income tax obligations.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/HOG19311126.2.27

Bibliographic details
Ngā taipitopito pukapuka

Hokitika Guardian, 26 November 1931, Page 5

Word count
Tapeke kupu
193

BRITISH POLICY Hokitika Guardian, 26 November 1931, Page 5

BRITISH POLICY Hokitika Guardian, 26 November 1931, Page 5

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