HIGH TAXATION
“BANKS BEING STRANGLED."
SIR J. DAVIDSON’S CRITICISM.
By Telegraph—Press Association—Copyright (Received This Day, 10.55 a.m.) LONDON, January 30. Sir John Davidson, speaking at the Union Bank of Australia’s annual meeting, referred to increased British and Australian taxation for defence, and said that New Zealand taxation last year had virtually absorbed the whole profit of the bank’s operations in that Dominion. He anticipated the bank paying taxation for the current year to the extent of a quarter of a million sterling, which was greater than the net dividend now being distributed. Sir John Davidson added: “Britain is following New Zealand’s control of exchange sympathetically, but with some anxiety. I would like, in a friendly way, to point out to the New Zealand Government that the trading banks cannot be expected to assist the Government while they are being simultaneously strangled.”
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Wairarapa Times-Age, 31 January 1939, Page 6
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141HIGH TAXATION Wairarapa Times-Age, 31 January 1939, Page 6
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