BRITISH FINANCE
EXCESS PROFITS TAX.
ALTERNATIVE PROPOSALS By Telegraph.—rrsss Assn.—Copyright. Received May 7, 9.45 p.m. London, May (i. At a meeting of the Federation of British Industries, a report was received regarding the outcome of a joint deputation with the Association of Chambers of Commerce to Mr. Austen Chamberlain (Chancellor of the Exchequer), protesting against the sixty per cent, excess profits tax.
Hie report said the Chancellor was determined to make the greatest inroads possible in the country's indebtedness (luring the anticipated period of prosperity. The Chancellor submitted alternative proposals, namely, the retention o? the sixty per cent, profits.tax; secondly, a flat rate tax of Ss fid in the £ on profits, to produce an equal amount; -and, thirdly, a levy on war wealth, the lastnamed to be in addition to some levy on excess profits.
The meeting, after discussion, referred the matter to the Federation taxation committee, which later recommended the Federation to consider the point in view of the unexpectedly high proposed flat rate, —Imperial Service.
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Taranaki Daily News, 8 May 1920, Page 5
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167BRITISH FINANCE Taranaki Daily News, 8 May 1920, Page 5
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