FINANCIAL SHIRKERS.

Taihape Daily Times, 12 April 1918, Page 4

FINANCIAL SHIRKERS.

DRASTIC MEASURES PROPOSED. FINES AND REDUCED INTEREST THREE PER CENT FOR CONSCRIPT MONEY. WELLINGTON, April 10. The Finance Minister made an important statement in the House this afternoon relating to putting the compulsory clauses of the Finance Act into operation against those individuals and corporations who have not subscribed to the war loans. Sir Joseph Ward reminded the House that although it was not a necessity to put the compulsory provisions into force for the past loans, the Act provided ‘for a penalty under certain conditions of four and a half times the amount of land tax and income tax on those who had 'not *subse'ribgd. Since the present loan had been before the public he had received communicaitons from practically all the important centres of the country, which advised him that the writers were withholding their applications respecting the present loan because other people in the locality had not done their duty in connection with the last loan. It was not fair, argued hljs correspondents, for them to be called upon to subscribe to the present loan until thbse shirking their were compelled to subscribe. Mr Okey: How do they know the others have not subscribed.

Sir Joseph Ward: Well, I am sorry to say that some people are making silly boasts about it. I happen to know that people have declared that they have not subscribed because they expected to get better terms for their money after the war. The Minister went on to say that the Government not only intended to put the compulsory clauses into operation, but that they would be asked this session to give legislative authority, to provide that those who come under the compulsory clauses should receive only 3 per cent, for their money instead of 4-} per cent in the proposed legislation.

It was also intended to makS[ these financial shirkers liable to aethal penalty by way of fine amounting ito double the amount of land tax and income tax they were, called upon to pay. He proposed, in short,. to ask - House,, to alter the present law so th* l the Comissioner of Taxes could acquaint the Treasury bf a case where a man was deliberately evading button to the War Loan. > If a man ' still evaded after being warned he would then be fined by the Board at present constituted double the amount of his land and income tax, and also be called upon to subscribe to the loan in proportion to his means. He would have the right of appeal to the. Board, but if he failed fb appeal, or the appeal was dismissed both fine and enforced subscription would stand, while the amount of money compulsorily subscribed would only bear 3 per cent, interest instead of 44 per cent. This means, said Sir Joseph Ward, that all classes of the country’ must o-pcogalae that our financial needs are imperative. We shall have to ask for a very larger amount of money from the country to carry on our share of war, and the country is well able to do it_ If the people do not subscribe the only way will bo -to put into operation the clauses and reduce the rate of interest to those unpatriotic enough to withhold giving financial help. Many peopl(Efeel very keenly the fact that a number of companies and individuals had done comparatively nothing at all in helping along past loans while others are pinching themselves and borrowing money to put into war loans. The proposed legislation, with its penal provisions and reduced interest for compulsory subscriptions, should insure the patriotic section of the community against unfair handicap in future from financial shirkers.