1939-06-30 — Page 23

NE 30, 1989.

CRIPT WEALTH? PETROL

BY

BARA OTTON

L

into an airplane factory; quite apart angle, from the possibility that she might not want to go!

*

UT this is no cause

The experiment was not tried, and gradually it receded into the for background of Labour policy; but

Bdespair. This kind of unema- not, I think, because we were con- ployment is merely transitory. If vinced that the objections were the ceiling wore accompanied by a unanswerable. really generous provision for the

her, very few work- it straight away.

their jobs on

all the evidence already referred to in these

days the nclined to consume in to use it pro-

unemployed, we could go all out for Take, for example, the problem And, in any about which we used to hear so the circumstances, there are several ex much that of valuing the capital- rise of the great cellent ways of approximating to it.

For instance, we might enact a ist's capital for the purpose of the ris capital.

ceiling, to be enforced only after a levy. There is a very simple way: In that of doing this: that is, to make the specified lapse of time. case there would still be other steps owner value his own property, and,

at the same time take powers to to be taken in the meanwhile.

Thus, we could have a kind of buy it off him, compulsorily, at standstill law, under which nobody whatever price he puts on it. the luxury trades who already enjoyed an income

People will not value their pro- stic bogy.

above a certain level, or had more

perty for levy purposes at, say, half its market value, if they find them- selves also obliged to sell it for the same under-estimate!

I am

have to admit that than a certain amount of capital, ceiling were quite should be allowed to retain any in

er

measures were crease in this.

ble unemployment Another, more moderate, form of the same plan would be the imposî- at great activity tion of a special tax on increments of income or capital; so that, in trades would pro-

jobs; but this is addition to ordinary income tax,

would take

street

an-

other, much stiffer, tax on any ex- cess income over what they had the year before.

* **

́HICHEVER of these plans is

Wo

adopted, there is one principle!

time people who were already comfort from which we should, in no cir- dressmaker ably off would have to pay

cumstances, depart. Conscription of wealth should go direct to the individual owner, and not try to catch him indirectly. The share- holder, not the company, should be assessed.

-An iron lung the exhibits at hd Station. Photo ital demonstrat-

In any case, those who believe that equality is of the essence of Socialism should welcome the ceiling plan, and press for 100 per The reason for this is that the cent, taxation of all wealth above shares of companies are held by a given maximum to be included in people of very different degrees of every Socialist programme.

.affluence. A levy on companies For a man to have too much would hit the big and the little money is almost as bad for him shareholder equally, which is not (and much worsę for his neigh- good sense or justice: It is the bours) as for him to have too little. rich man in his castle, not a paper And, pending enactment of such a security, who is a proper subject ceiling, let us be sure to have heavy for taxation, taxation of all additions to the in- comes of those who are already With this proviso, conscription of wealth could be carried through prosperous. The days of conscrip- efficiently by any or all of the tion are no time for the rich to be methods described above. It seems getting richer.

unnecessary to add that it should.

If

**

is to

YET another alternative levyt any other argument is wanted,

we

out of cold storage again. Person- when rearmament was introduced, ally, I an inclined to think that, if interest on the National Debt ab- greater than the had conscription of wealth sorbed a sum along the lines suggested above, whole amount that we pay in taxes coupled with a proper use of the ex- on drink, tobacco, tea, sugar, enter- isting income tax and death duties, tainments, and silks. This is be- it would hardly, be worth while cause we did not conscript wealth incurring the fuss and bother of a in the war of 1914..

eneral capital levy.

If, however, anybody prefers this method, there is no reason why it should not be employed. General property taxes, which might serve as a model, are imposed ina number of foreign countries.

Immediately after the war, the capital levy was very much to the fore in political discussions. that time every conceivable culty and objection was dragged out and well canvassed from every

At

dim-

COSTS

DOWN

VAUXHALL engines get so

more power out of every dro of petrol used. That is why recent R.A.C. official trials over 1000miles of public roads, produced these extraordinary results :—

22.48 mm.p-E 30.21 m.p-E

43.4. m.p.8.

Compare these figures with those obtain. `able on carn "of similar power. And thèm

compare general performance,; · Wa will." provide ́en. adequate", trial"run on any Vauxhall, model and prova la -petrol-

VAUXHALL

SEE & TRY THE:10 & 12 H.P.

HONGKONG HOTEL' GARAGE

Stubbs Rd.

Tel. 27776-9.

YOU LOOK REALLY SMART

IN A 1939-MODEL JANTZEN !

© JANTZEN

Jantzen

GLAMOUR SWIM SUITS

with Lastex yarn

BATHING SUITS for Ladies

and

BATHING TRUNKS

for Men.

There are new types and designs in this year's bathing suits for

*men. ladies and trunks for i are, patterned, and the fabrics

xuriously light and

all contain Lastex yari perfect fit, comfort, and fre They are all quick-drying, and look like a lot more money but the prices are as reasonable as ever,

COME AND GET YOURS AT

YEE SANG FAT

EXAKTA

COMPANY, LTD.

Exakta

TO

By George McManus

MY WIFE SAYS THE LITTLE RASCALIT LO STABI LIKE YOU MY SON

TAKE

BA

HE'S

OL

noch

HELMUTANOCHT

VLS ZUILDINGS

CHATER BOT