:On Saturday last the Labour Party issued its official programme,
which was entitled " Appeal to the Nation." Tariffs were declared no remedy for -unemployment. The Droit de Travail was to 'be established and vast public works immediately undertaken. The Capital Levy has sunk from the first place to the second half of the pro- gramme, and rests coyly under the title of " Relief for the Tax-Payer " I It is now -called. a ".non-recurring graduated War debt reduction levy." Its proceeds are to be devoted entirely to debt redemption, and the Income Tax is thus to be -reduced. It is not pretended that the entire levy could be paid up at one stroke : annual pay- ments would extend over several years. Thus the pro- posal, as it has been happily expressed by a great journalist, is one for " halving the Income Tax by doubling it."
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