WAR PROFITS.

Taranaki Daily News, 15 July 1916, Page 10

WAR PROFITS.

The war profits from which it is intended to take 4-*> per cent, are very much greater than (lie Minister of Finance has indicated, and we can only suppose that in the kindness of his heart S>r Joseph Ward is "breaking it gently." (remarks the Lyttclton Times). From a statement supplied in the Budget, we have calculated the increase due to price and not to cpiautity in the returns for primary products last season over the season of 1 !)!">-1 -1. The figures are impressive:— £

Butter 011,200 Cheese 478,.'121 Coal 3,7 Hi ' iold 55,;!7.-> Hides 1 Or>,ts4S lieef ">07,(520 Lamb 422,(1(59 Mutton 712,981 Potted Meat ">J,095 dais J 1,908 Flax 4S.USS Sausage Sk ; ns .")S,ltil Sheepskins 20,908 Tallow 111, Wool 4,080,(i20

Total £7,:t")4,7riii These tiuuris take no account of the increased value on the local consump4i' it, which must have been very large. T1 e discovery of war profits, which are to lie taken in regard to all businesses in addition to pastoral and agricultural in-du.-trics, will not be made exactly on the basis of the foregoing table, but tbe pariicuhi r* arc suliicient to give smie idea of the extent, of a portion of 'tie' war gains intended to he taxed. If ill! war profits pay -!"> per cent, into the Treasury it doc* not seem extravagant to say that the year's revenue may exceed I20.lll)0.l!0li. That would enable the country to pay oil' and be done with ,i substantial proportion of the military expenditure. What with this prospect npd the proposed isMic of war bonds the h.'vcrnment is making large strides in the way of self-reliance. Wo are sure the great hulk of the people heartily approve this policy, whatever may be said as to the apportionment of taxation