PARLIAMENT.

Taranaki Daily News, Volume L, Issue 61, 16 October 1907, Page 2

PARLIAMENT.

TUESDAY, OCTOBER 15. LEGISLATIVE COUNCIL. Per Press Association. Wellington, Last Night. The Council met at 2.30 p.m. LAND TAX BILL. The lion. Mr. Maedonald resumed the ili'bate on the second reading of the Luid and Income Tax Bill. He ventured to say that there was not one large estate which would not bring 25 to {.O per cent, more than the value stated ill the books of the Department. He could go through Wellington City and iV'-.e the value a quarter of a million. There were thousands of cases in this country where men could get 25 to 60 per cent, more than tliey were valued ■ heir properties, and that on a basis that would be practically a cash transaction. The Hon. Mr. Callan hoped that the Government would take no notice of the statement made by the last speaker in regard to valuations. (Hear, hear.) On the whole, Mr. Callan preferred the Bill of last year. Tlis lion. Mr. Kelly pointed out that the discussion need not necessarily be wasted, as amendments to the Bill couid be introduced by Governor's message. Jle predicted that the principle of graduated taxation would eventually be applied to city hinds. The Hon. Mr. Luke differed from Mr. Maedonald in regard to valuations. As a matter of fact, property was valued up to the highest point, and the danger was that the high figures would not be realised in the case of a crisis. The Attorney-General, in reply, said it would have been unfair to have taxed business premises in the cities because here was a measure to induce settlement Referring to last year's Bill, he said he went through the measure with the law draughtsman, to see if it could be made a workable measure. Only those who had carefully studied its technicalities could appreciate the fact that it had crea ted a separate set of difficulties. The Bill was then read a second time. The Council rose at 4.85 p.m.