WAR WEAPONS WEEK

Wairarapa Times-Age, 24 May 1941, Page 5

WAR WEAPONS WEEK

LONDON’S FINE EFFORT EXAMPLE OF THE WEIGHT OF TAXATION. MR CHURCHILL RETAINS THIRD OF SALARY. (British Official Wireless.) RUGBY. May 22. Moving the second reading of the Finance Bill in the House of Commons, the Chancellor of the Exchequer, Sir Kingsley Wood, referred to the London War Weapons Week, announcing that the total had reached the magnificent figure of £70,250,000, so that it was already within striking distance of the target of £100,000,000. Referring to savings in the country generally. Sir Kingsley noted with gratification that the figures of small savings showed a further advance over the earlier part of the year. He went on to point- out that the rapid growth of expenditure was not in itself evidence of waste but rather of growing production. Britain had now reached a rale of expenditure double that of last year. The total number of persons Who would pay income tax in Britain now had been raised to some 7.800,000. and it- was no more than bare justice to all of them to see that every step should be taken to prevent any waste. After dealing with details of the Finance Bill, the Chancellor referred to the contribution the Dominions and colonies were making to the war effort outside their own financial spheres. The British Government appreciated to the full the magnitude of the measures taken by Canada. Sir Kingsley also paid a tribute to the help given by the Colonial Empire in direct financial contributions and many other ways. In the debate. Sir Frank Sanderson strikingly showed the incidence of income tax and supertax by pointing out that Mr Churchill's salary of £lO,OOO became £3160 when the deductions were made under those heads. If it was desired that the Prime Minister should enjoy an actual salary of £lO,OOO. the House would have to make him a grant of £160.960 a year.