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3.
Excess profits tax does not appear to be practicable as, owing to the wholesale destruction of records, no standard would be obtainable in the majority of cases. Normally, it is understood that an average is taken over a number of years.
4. Petrol tax was increased in the early part of the war and at 80 cents is now one of the highest in the Empire. I do not consider it desirable at the present time to increase transport costs any further and, in any case, the yield would be very small in present circumstances.
5,
A scheme for the issue of Savings Certificates was about to be put into operation at the time of the Japanese attack. It is considered to be doubtful whether such a scheme would meet with any measure of success at the present time, since:-
(a) Wealthy clase will be catered for by local issue of a loan if this is decided on,
(b) Lower middle class, to whom such Certificates would normally appeal, is passing through a very difficult period and finding it quite impossible to meet their commitments, and
(c) Thrift is completely foreign to the nature of the coolie class, which is relatively better off than before
the war.
Nevertheless, I am giving further consideration to
the question.
Ge
hand.
The revaluation of property assessment is in
An effort will be made to estimate special rehabilitation expenditure for the next few years, but difficulties appear to be very great and no accurato Ostimate would be possible.
Copies sent to:
Treasury
Crown Agents
Mias M. E. Ashe,
E, Mr. Owen!.
HT. AH, Kicks, Mr. Goldburg,
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