WAR WEALTH.
SCHEME FOR TAXATION. MANY MILLIONS PROMISED. By Telegraph.—Press Assn. —Copyright, | Received April 14, 2,25 p.m. London, April 13. The House of Commons' Committee on the taxation of war wealth has resumed its sittings. Mr. Anderson, Chairman of Inland ReVenue, submitted three alternative schemes to meet the suggestion that a liberal abatement baaed on the amount of pre-war wealth should be allowed in order to cover savings and recognise the diminished value of a pound, duty under each scale being limited in order not to reduce post-war wealth under £SOOO. The first scale, which affects 45,000 people, is estimated to produce £450,000,000; the second scale, affecting 105,000 people, is estimated to yield £700,000,000; and the third, affecting 75,000 people, is estimated to yield £300,000.000. Mr. Anderson s'aid that unless they could aim at a yield of £500,000,000 it would be questionable whether it was worth while facing the cost of a financial disturbance.
The Committee adjourned after Mr. Anderson promised to submit the result of the investigation of the /effect of a levy on business—lmperial Service.
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Taranaki Daily News, 15 April 1920, Page 5
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177WAR WEALTH. Taranaki Daily News, 15 April 1920, Page 5
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