THE NEW LOAN.
NO INCOME TAX EXEMPTION. RATE OF 5 % PER CENT. (By; Wire.—Parliamentary Reporter.} Wellington, Last Night. 'lt lifts been said that we have little prospect of raising loans at 5 per cent., or 6% per cent, free of income tax," said Mr. Massey in the House to-night. "Let men tell honorable gentlemen that since the House met have raised s&me hundreds of thousands of pounds from outside at 5 per cent without any freedom from i;icome-tax." Mr. Massey's .♦sference to "outside" must mean outside •2he Government departments. He said at another time that it was the intention' of the Sttvemment to move to increase the maxlmi'TO rate of interest when the Loan Bill came down. It is underato.Vj 'hat Mr. Massey hopes to raise his .'os-a :b November at 54 per cent, without exemption from income tax.
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Taranaki Daily News, 18 August 1920, Page 5
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139THE NEW LOAN. Taranaki Daily News, 18 August 1920, Page 5
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