WAR FINANCE

Waikato Times, Volume 125, Issue 20921, 28 September 1939, Page 9

WAR FINANCE

' EXPENSES BILL PASSED LATE SITTING OF HOUSE EXTRA TAXATION' REGRETTED (By Telegraph.—Special to Times) WELLINGTON, Thursday Consideration was given by the House of Representatives to-day to the Government’s proposals for obtaining additional revenue to finance Zealand’s war effort. Urgency was taken for all stages of both the War Expenses Bill and the Customs Amendment Bill, two measures imposing special wartime taxation. The acting-Prime Minister, the Hon. P. Fraser, indicated that he would give to-morrow an outline of the business yet to be dealt with before the session could finish. Examples showing the effect of the increase in income tax on individuals and companies were given by the Minister of Finance, the Hon. W. Nash, in moving the second reading of the War Expenses Bill. The Minister was followed by the Leader of the Opposition, the Hon. A. Hamilton, who said that with careful management it might be expected that the Government would have, at least, been able to get through the present financial year without increasing taxation. The country’s financial resources were already depleted through the Government’s policy, and the Dominion was entering the war with its coffers by no means full. Other members of the Opposition urged a substantial reduction Public Works expenditure, the money thus saved to be used for defence purposes. The only new legislation introduced to-day was the Industrial Conciliation and Arbitration Amendment (No. 2) Bill, which corrects some minor defects in the principal Act. The War Expenses Bill was passed at 1.30 a.m., when an adjournment of the sitting was taken. Although urgency had also been taken for the Customs Amendment Bill the House did not proceed with this measure.