POLITICAL GOSSIP.

Gisborne Standard and Cook County Gazette, Volume V, Issue 626, 27 June 1891, Page 2

POLITICAL GOSSIP.

[special to the standard.] Wellington, last night. The debate on the financial proposals is still proceeding, but is very dull. The proposals are in some respects condemned by Government supporters themselves. Mr Rees will speak to-night. He will advocate the taxing of bondholders, urging that from .£BO,OOO to £lOO,OOO can be derived from that source, and a tax on absentees on the same lines as advocated by Sir Geo. Grey. Regarding the taxation proposals, the Premier gives me authority to state they will no doubt be modified by Government. They were never meant to stand hard and fast upon every point, but they intend to adhere firmly by the principle of the Land and Income Tax. As to the rate, that is a matter of consideration whether it can be varied to produce the same amount of money. Government are strongly urged to make a larger exemption for improvements, and are prepared to alter the proposals in that direction. The Premier’s intention is, so soon as the finances permit, to exempt improvements more and more, the present proposals being arranged so that there should not be a hole in finance next year. On the subject of an Income Tax, he desires that trade and commerce will pay more than under the Property Tax, while those who make nothing pay nothing. Professions, which paid nothing before, will now be brought under taxation. He is prepared, however, to modify the Income Tax on trade and commerce.