B—6

Double Taxation An additional measure of relief is afforded by an arrangement recently made with the Chancellor of the Exchequer of the United Kingdom for the elimination of double taxation of income. I am pleased to be able to tell you that complete agreement has been reached with the United Kingdom Government on all important points. A formal document is now in course of preparation, and it is hoped that this will be finished at an early date so that the terms of the agreement may be announced and made operative as early as possible. The agreement will prove of real assistance to traders and others with interests in both countries. Conclusion And now, Mr. Chairman, my task for this evening is reaching an end. That task has been more agreeable than any in recent years, because this is the first Budget since New Zealand, with the Allies, emerged victorious from the most desperate war ever fought to preserve human rights and justice against savage and brutal forces seeking to subjugate the world. In opening I said that to-day is a great anniversary—a year ago to-day was VJ Day. It is equally fitting to recall that this is also another notable anniversary. Five years ago to-day the world was thrilling to the announcement of the terms of the Atlantic Charter, which had been adopted on the previous day as embodying the guiding principles of the United Kingdom and the United States of America. That Charter was the foundation on which the construction of the machinery of international co-operation was commenced. It was the beginning of the road to United Nations, and recognition of the hopes and ideals of mankind. Many recognized the great step forward it made, and its terms only required more careful definition and elaboration to make it the Magna Carta of all nations. That Charter recognized the desire to bring about the fullest collaboration between all nations in the economic field with the object of securing for all improved labour standards, economic advancement, and social security. New Zealand has already indicated for a decade that it recognizes the need for considerable advances to a better world and a richer life for mankind. Whether we work in the field, factory, or office, or whether our dealings are with other nations and their citizens, the way to true happiness and prosperity lies along the road where the maintenance of our rights is matched with the realization and observance of our community responsibility. Many great leaders have expressed their faith in national and international organization capable of giving mankind the chance to ensure that the vast suffering of the conflict through which we have passed shall not have been in vain.

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