NO REDUCTION OF HEAVY TAXATION
INCREASE AS PROBABLE FINANCE MINISTER’S REPLY SEEING a surplus shown in the Finance Minister’s statement the Auckland Chamber of Commerce began to look forward to the reduction of taxation. Correspondence has shown that a reduction is less probable than an increase in taxation. A letter from the Hon. TV. Downie Stewart was before the Council of the Chamber yesterday. In his reply the Minister of Finance acknowledged the chamber’s protest but stated that he had made it-clear in his speech at Feilding some time ago how the surplus had arisen and that it could not be thought a bAsis for a reduction of taxation, more especially in view of the outlook which might call even for an increase in taxation. However, concluded the Minister’s letter, the statement should not be taken as a considered opinion. Mr. Lunn asked wliat the council could do. They were in the dark and could do nothing until they knew whether the surplus stated was a paper surplus. The question was referred to the executive for further consideration.
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Sun (Auckland), Volume 1, Issue 71, 15 June 1927, Page 11
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178NO REDUCTION OF HEAVY TAXATION Sun (Auckland), Volume 1, Issue 71, 15 June 1927, Page 11
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