COMMERCIAL SPHERE

New Zealand Times, Volume LIII, Issue 12613, 25 November 1926, Page 9

COMMERCIAL SPHERE

NEW ZEALAND CHAMBERS MEET CIVIC RECEPTION TO DELEGATES TAXATION AND UNEMPLOYMENT In a common desire to facilitate the operations of the commercial sphere within the Dominion, about 40 delegates from Chambers of Commerce in all parts of New Zealand met in conference at Wellington yesterday. Many matters affecting trade and industry were discussed, and remits urging reform in certain directions are to be forwarded to the proper authorities. ' In extending to the delegates the honours of the city, the Mayor (Mr C. J. B. Norwood) expressed pleasure that those present were going to provide just that lubricant to set in more vapid motion the big commercial machine in Zealand, which had of late been revolving scmeu'hat slowly. He wished the - visiting delegates a pleasant time in Wellington, and voiced his trust that the deliberations of the conference would be attended by the most satisfactory results. The president of the conference (Air A. H. Mackrcll, of Invercargill) replied on behalf of the delegates, and sqid the city had done its part towards forwarding the commercial interests of the Dominion. MINISTER’S SPEECH The conference was addressed by tho Minister for Industries and Commerce (the Hon. A. D. McLeod), who said he hod accepted the invitation with mixed feelings of pleasure and trepidation, insofar as he felt like Daniel going into a den of lions — those who to some extent guided the commercial side of life in New Zealand. He might almost claim the right to take his seat as a delegate because he saw present representatives of stock and station agencies, and he was the political head at least of the largest stock and stations agency in the country—the Ministry for Lands. Some of the matters for discussion on the order paper were of vital importance to every man, woman and child in the Dominion; others he must claim did not appear to him to have a very important nature. ‘ He would be pleased to hear the representations which he felt sure would be made to him when the conference was finished. Gratification was expressed by Mr Machin, vice-president, that the Minister regarded the problems of the conference as his own problems; They in return regarded him as their minister. TAXATION TOO HEAVY The conference expressed the opinion that the burden of taxation borne by commerce and industry was too heavy, and was a hindrance to the full revival of trade; and further that the present incidence of taxation had;, caused a regrettable diversion of capital and labour from rural to urban areas to the neglect of primary industries. Regret was expressed at the failure of the Government to carry into effect the recommendations of the special committee of taxation, 1922. and of the unanimous report of the Royal Commission of 1924. and the principles that a graduated tax upon the income of individuals; and that power boards, municipal and State trading enterprises, which enter into competition with private enterprises should be liable for taxation on the same basis as similar trading firms or corporations. were affirmed. A remit advocating that graduated land tax be abolished was postponed for further consideration, while it was agreed to urge that a summary of statistical information regarding incomes be made available for the public.

STATE AND MUNICIPAL TRADING It was agreed at the suggestion of Mr W. Mitchell (Wellington) that trading departments controlled by the State or by local bodies should be subject to taxation and rating on the same basis as private enterprise ; and that they ho compelled to publish an annual balance sheet, prepared in accordance with recognised commercial principles. STAMP DUTIES That repeated representation of the reduction of the present stamp duties on cheques and receipts have not been given effect to, was viewed with disappointment, and it was agreed that the Government be again urged to give the question favourable consideration. The reduction of stamp duty to one penny, the drawing of the Government’s attention to the present high rates of poundage on postal notes, and tho anomalies existing in this connection, was also advocated.