PRODUCTION & TAXES
<> THE OUTLOOK IN BRITAIN COMMENT ON BEAVERBROOK’S TASK. MIXED FEELINGS IN CITY. (By Telegraph—Press Association —Copyright) (Received This Day, 12.40 p.m.) LONDON, February 6. City industrial circles view Lord Beaverbrook’s appointment as Minister of Wai’ Production with mixed feelings. “Statist,” voicing the more conservative City opinion, believes that Lord Beaverbrook will be a first-class poacher converted into a good gamekeeper. The '‘Economist” praises Lord Beaverbrook’s determination and energy, but suggests that Captain O. Lyttelton would have been a better choice. Many industrialists do not expect Lord Beaverbrook to realise expectations in the absence of a comprehensive plan for the decentralisation of production and a reform of income tax collection. At the beginning of January, three million workers for the first time became liable for income tax, the assessments being based on their earnings for the first half of the fiscal year, and because many are engaged on seasonal trades, workers’ earnings at their lowest have to meet the tax at its highest incidence. This is having a damaging effect on production morale. The “Financial News” suggests that the Minister of War Production should be able to override the Treasury in this matter.
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Wairarapa Times-Age, 7 February 1942, Page 4
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194PRODUCTION & TAXES Wairarapa Times-Age, 7 February 1942, Page 4
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