CO129-605-4 Government loans 12-7-1946 - 6-1-1948 — Page 184

189

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 on average is taken over a number of years.

4.

Petrol tax was increased in the early part of the war end at 80 cents is now one of tho highest in the Empire. I do not consider it desirable at the present time to increase transport cocto 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 on Sho Jupenese attack, It is considered to bo doubtful whether such a scheme would meet with any measure of success at the present time, since:-

a Wealthy class will be catered for by local Issue

of a loan if this is decided on,

1

(b) Lower middle class, to whom such Gertificates would normally appeal, is passing through a very difficult period and finding it quite impossible to meet their commitments, and

L

(c) Theft is completely foreign to the nature of the coolie class, which is relatively better off then before tho var.

Nevertheless, I am giving further consideration to

the question.

hand,

2

The so-valuation of property assezument As in

An effort will be made to estimate spoc lal rehabilitation expenditure for the next few years, but difficulties appear to be very great and zo acousite estimate would be possible,

Copies sent to:-

Treasury

Crown Azente

રો

+3

.re

Mine M.E. Ashe,

Mr. Owen1.

HT. A, H. Ticka. Mr. GoldbuZYO

*DR. Serpell