INCREASED TAXATION

Manawatu Herald, Volume XLIII, Issue 2228, 18 January 1921, Page 3

INCREASED TAXATION

EXTRA EXPENSES TO BE MET. Wellington, Jan. 10. Replying to criticism of the legislation providing for increased taxation, Mr Massey referred to Ihe enormous war liabilities which had to be inej,—interest and sinking, fund (in war loans, war pensions, and increased salaries and bonuses caused by the high cost of living. These, he said, amounted- to many millions additional compared with the pre-war period, and these eoulil only he met by taxation. The Government was endeavouring m reduce expenditure and regarding the expenses of administration, and it was hoped to lighten the burden of the taxpayer. The statement that, taxation would cheek enterprise was contradicted by the large number of new companies registered last year, accompanied by the urgent demand for capital for the extension of business. Referring to exemptions, lie said there were so many that there was a doubt whether the increases would be equal to them. It had to be remembered that the taxes to which objection were taken could not be collected until after llunpassing of the Laud and Income Tax Bill next session, and he would have a better idea then of the amount of money required.