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

IN WAR EXPENDITURE THIS YEAR

An Estimated Outlay of £133,000,000 PRIME MINISTER PRESENTS EMERGENCY FINANCIAL STATEMENT INCREASE IN NATIONAL SECURITY AND OTHER TAXES (By Telegraph.—Press Association.) .WELLINGTON, This Day. Presenting' to Parliament last evening an emergency Financial Statement which will largely supersede the ordinary Budget, the Prime Minister (Mr Fraser) in his capacity as Acting-Minister of Finance, said the estimated war expenditur e for the current year was the enormous amount of £133,000,000— more than double what was spent last year and substantially more than the whole cost to the Dominion of the last war. Mr Fraser announced that new taxation would be imposed. The national security tax would be increased by 6d in the £ on all incomes, including company profits. Supertax is raised from 15 per cent to 33 1-3 per cent. Income tax otherwise is unaffected. New indirect taxation includes An additional 10 per cent sales tax on certain non-essential goods,. An increase of Is a gallon in beer duty, and a corresponding duty on wines and spirits. An extra 2d on a packet of ten cigarettes, together with an additional 5d an ounce on tobacco. These taxes are expected to yield an additional total' of £14,400,000.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/WAITA19420501.2.22.1

Bibliographic details
Ngā taipitopito pukapuka

Wairarapa Times-Age, 1 May 1942, Page 3

Word count
Tapeke kupu
199

IN WAR EXPENDITURE THIS YEAR Wairarapa Times-Age, 1 May 1942, Page 3

IN WAR EXPENDITURE THIS YEAR Wairarapa Times-Age, 1 May 1942, Page 3

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