1940-05-30 — Page 7

THE CHINA MAIL, MAY 30, 1940.

Page

HIGHER TAXATION Warning By New Chancellor Of The Exchequer

100 Per Cent. E.P.D. For All Businesses

LONDON, TO-DAY.

A WARNING OF STILL' HEAVIER TAXATION WAS GIVEN IN THE HOUSE OF COMMONS YESTER- DAY BY THE CHANCELLOR OF THE EXCHE- QUER, SIR KINGSLEY WOOD, WHO SAID THAT. ALL BUSINESS: WOULD BE LIABLE TO THE NEW 100 PER CENT EXCESS PROFITS TAX.

The Chancellor said that since the Budget was in-

The

MIGRATION OF CHILDREN

TO AUSTRALIA

Canberra, To-day.

Commonwealth Govern- ment has cabled the British Gov- ernment offering homes in Aus- tralia for children under 12 years for the duration of the war.

General desire of Australia is co-operation in every possible way so that the lives of the chil- dren will be safeguarded.

The plan would provide for the migration of färge numbers of children. Orphans would stay here permanently.—Reuter.

troduced the whole situation had undergone a NEW TAXES

vast change, putting all previous estimates of the rate of war expenditure out of date.

It was still impossible to give any real estimate but whatever was necessary he was sure would be willingly paid.

IN AMERICA

WASHINGTON, TO-DAY.

OILFIELDS UNDER ARMY CONTROL

(SPECIAL TO "CHINA MAIL")

Bucharest, To-day.

The

Rumanian Govern- ment has adopted fresh mea- sures to protect the oil-fields, which are now under mili- tary control.

Foreigners arriving by sea or by the Danube at Giurglu (Glurgevo) and Constanza must keep at least 150 feet away from the oil-fields. ··

All foreigners are barred from the oil-fields themselves and those for- eigners employed by the oil companies are under military control.

These measures are primarily aim. ed against sabotage and "Fifth Columnists."

The Rumanian Government is also drafting a decree comprising measures for the economic mobilization of the country.

Unofficial reports say that this de-. cree would give the Minister of Na- tional Economy discretional powers THE over private industry, with a view to

MR. 'ROBERT :: DOUGHTON, CHAIRMAN OF THE WAYS AND MEANS COMMITTEE OF

Total revenue from taxes had risen extravagant capital expenditure, as in HOUSE OF REPRESENTATIVES, ensuring production for home con- from £765,000,000 in 1936/37 to the last war.

£1,200,000,000 to-day, and 'it would be necessary to increase the burdens further in the near future.

Rare

STATED YESTERDAY THE AD-sumption, and might even include the MINISTRATION HOPED TO RAISE "evacuation" of certain industries. $658,000,000 FOR DEFENCE BY AD-Havas. DITIONAL TAXATION UNDER THE TAX BILL TO BE INTRODUCED

Capt. H. F. C. Crookshank, Finan- More people were being put into cial Secretary to the Treasury, reply-TO-DAY. employment, and civilian consumping, said it was surely rare for heavy tion would be strictly controlled; taxation to be welcomed so whole- hence there should be more money heartedly. "In the hands of people which they were in a position to lend to the country.

for

The Chancellor was considering what would be the best shape future War Loans.

No Danger To Savings

There was nothing in the new pow- ers of the Government over persons and property which endangered money in any bank. There would be nothing that endangers savings in any way.

On the contrary, the more firmly and resolutely we joined our efforts to- gether the safer and more valuable would our savings be.-Reuter.

L

Proposal Welcomed

All parties welcomed Sir Kingsley Wood's warning of still heavier taxa- tion.

of

"This is a reduction of the previous estimate of $883,000,000.

Unnecessary capital ́expenditure would be difficult under the powers

This sum, Mr. Doughton said, would the Government now had to prohibit be raised annually by an increase of a flat 10 per cent in the individual and the use of materials or men, Moreover people were now opposed corporative income tax, an increase in to the sort of thing that happened in the petrol tax from one to 11⁄2 cents the last war, and it was on the peo-per gallon, the cigarette tax from $3 ple's patriotism that the Government to $3.50 a thousand, liquor from $2.25 to $3 per gallon, beer from $5 to $6 a barrel, a 20 per cent increase in the current transfer tax on stocks and bonds, a reduction from 40 to 30 cents in the exemption allowed for theatre admissions and other amusements and 10 per cent on excise taxes excepting cigarettes.-Reuter..

relled.

The Finance Bill was read a second time without a division.-Reuter.

METROPOLITAN POLICE STRENGTHENED

London, To-day.

A large number of men in the Metropolitan Police war reserve, the special war constabulary and police pensioners who have returned to civi- lian life are to be recalled for service. --Reuter.

$50 FINE FOR CRUELTY

Mr. F. W. Pethlok-Lawrence (La- bour), declaring the new Govern- ment was showing drive and a sense the gravity, bald the Labour Party would support heavy calls on

A fine of $50 was imposed by Mr. the workers except the very poorest. | R. Edwards at this morning on So Sau- He added: "We want the Chancellor ying, 26, concubine, for ill-treatment of a 12-year-old girl at No. 3, Ying Wah Terrace on Tuesday.

to impose upon us burdens worthy of the heroism and courage of the B.E.F."

CATAPULTIST FINED

Other members spoke in similar strain.

For throwing stone with intent to Lt-Col. M. R. Hely-Hutchinson do damage, Liu` Ping-sum, 18, was (Cons) said the present burdens did fined $5 or 10 days, by Mr. E. Hims- not sufficiently restrict individual | worth this morning. He was seen to spending, but he feared the 100 per shoot a catapult and break a window cent excess profits tax would lead to pane in Tam Kung Road yesterday.

SATURDAY NIGHT

SPECIAL DINNER DANCE

AT

CHANTECLER

Extension till 2 a.m.

176, Nathan Road, Kowloon.

RADIO SET FRAUD

Accused of having tricked the man- agement of the Din Wa Radio Shop into parting with a radio set valued at $88, and then to have sold the set for $20, Gunner John William Dickenson, of the Royal Artillery, was bound over by Mr. Q. A. A. MacFadyen at the Kowloon Magistracy this morning.

Dickenson was also ordered to repay the $20.

It was alleged that accused entered the shop in Nathan Road on April 22 and gave a false name when he ob- tained the set.

AT THE

Parisian Grill

No Cover Charge

Baked Onion Soup

Escargot

Tel. 50021.

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