Thank you for correcting the text in this article. Your corrections improve Papers Past searches for everyone. See the latest corrections.

This article contains searchable text which was automatically generated and may contain errors. Join the community and correct any errors you spot to help us improve Papers Past.

Article image
Article image
Article image
Article image
Article image
Article image

“NOT SO TERRIBLE”

THE AUSTRALIAN BUDGET UNIFORM CONTRIBUTIONS TO NATION. APPROVING PRESS COMMENT. (By Telegraph—Press Association —Copyright) (Received This Day, 12.30 p.m.) CANBERRA, This Day. The national contribution scheme in the Federal Budget means that total payments to the nation will be the same in every State far Australians earning similar incomes. The national contribution will be assessed, and from this will be deducted both Federal and State taxes, the remainder being the amount payable as a post-war credit loan. The Federal income tax will not be increased except on higher incomes, where there will be substantial increases. Federal tax and loan contributions will be deducted weekly from pay envelopes, after a date to be fixed.

Commenting editorially, the “Daily Telegraph” says: “The Budget was conceived, shaped and delivered in an atmosphere of grim, party political strife, which induced the taxpayer to prepare for unimaginable horrors, but the document itself is not so terrible as most of us expected. If the Labour Party believes the Budget to be bad, it must convince Parliament and the people by offering alternative detailed proposals.” The “Herald” says: “Mr Fadden’s Budget shows unusual imagination and constructive thought in devising new ways of raising further sums from the public. He has undertaken a huge task in finding means of meeting a Commonwealth expenditure of £320,000,000. He outlined new burdens to be placed on the public and foreshadowed a much more stringent control of our industrial resources, all of which is welcome evidence of the growth of our war work.” LABOUR HOSTILITY MR FADDEN UNDER FIRE. POINTS OF CRITICISM. (Received This Day, 1.15 p.m.) CANBERRA, This Day. Mr Fadden was almost continuously under fire from Labour members during his Budget speech and had to appeal to the Chairman of Committee for a fair hearing. Mr Menzies sat in his own room during most of the speech. Although the Labour Leader (Mr Curtin.) declined to comment last night, observers say the Labour attack on the Budget is likely to be based on, firstly, the proposed increase of a shilling a week in deferred pay for soldiers; secondly, on the proposed interest rate of two per cent on compulsory savings; thirdly, on the taxation of personal exertion on the same scale as income earned from property, and, fourthly, on the proposed compulsory loans by all persons without dependants earning more than £lOO annually. It is claimed that the deferred pay for soldiers will amount practically to a compulsory loan to the Government, without interest. Interest rates on the compulsory loans are likely to be a major issue. Labour men say that low-wage earners, who will be compelled to lend money they cannot afford, will receive only two per cent. It is claimed that they should receive at least as much as, if not more than, the interest on money that private banks receive. Labour has always held that income earned from personal exertion should not be taxed as heavily as income from property. The Independents, Messrs Wilson and Coles, either of whom could cause the defeat of the Government in the Labour Budget, declined to comment on the Budget.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/WAITA19410926.2.55

Bibliographic details
Ngā taipitopito pukapuka

Wairarapa Times-Age, 26 September 1941, Page 6

Word count
Tapeke kupu
521

“NOT SO TERRIBLE” Wairarapa Times-Age, 26 September 1941, Page 6

“NOT SO TERRIBLE” Wairarapa Times-Age, 26 September 1941, Page 6

Help

Log in or create a Papers Past website account

Use your Papers Past website account to correct newspaper text.

By creating and using this account you agree to our terms of use.

Log in with RealMe®

If you’ve used a RealMe login somewhere else, you can use it here too. If you don’t already have a username and password, just click Log in and you can choose to create one.


Log in again to continue your work

Your session has expired.

Log in again with RealMe®


Alert