MEETING WAR COSTS
ACCEPTANCE OF BURDEN IN BRITAIN. (British Official Wireless.) RUGBY. July 3. Commenting on the Finance Bill which passed its third reading in the House of Commons on Tuesday, “The Times” cites the Chancellor of the Exchequer, Sir Kingsley Wood, in saying that the Bill was designed tc ensure the taxation, borrowing and genuine savings should together pay the whole cost of the war “without some slow or rapid slip into inflation.' Concerning taxation. “The Times’ gives interesting figures: “A single man earning 46s a week will pay 3s a week income tax and from this starting point the tax is sharply graduated upward so that it is practically impossible for anybody to earn much more than £3OOO a year clear, ol which the greater part is. of course, absorbed by prior commitments. War budgets have more than doubled the burden of taxation —they will have added in a full year about £1.000,000,000 sterling to the yield of taxation. It is remarkable this great and farreaching extension of burdens has been greeted with gratitude rather than with complaint.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/WAITA19410705.2.22
Bibliographic details
Ngā taipitopito pukapuka
Wairarapa Times-Age, 5 July 1941, Page 4
Word count
Tapeke kupu
180MEETING WAR COSTS Wairarapa Times-Age, 5 July 1941, Page 4
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Wairarapa Times-Age. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in