CURE WORSE THAN DISEASE.
But having made all these admissions it is pretty clear from an examination of the various clauses in the new Finance Bill that the remedy is to be worse than the disease, for the new clauses affecting companies are harassing and absurd to the last degree. I fear that the arbitrary powers conferred on the authorities will undoubtedly interfere with the accumulation of those reserves which are always a source of strength to industrial enterprises, and which moreover were never more greatly needed than at the present time. And, again, in the attempt to prevent the evasion of Super Tax by the sales of Government Stocks cum dividend, it looks as though the new regulations, if carried out, would mean that in many cases the Exchequer would get the tax twice over, from the buyer and the seller, which, of course, would be against the public interest and rights.
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