Special Surtax Proposed at Blackpool to Take Its Place London, Oct. 6.
The capital levy has dropped out of practical polities, the Labour Party Conference at Blackpool today overwhelmingly adopting a proposal for a special surtax on unearned incomes of over £500 after rejecting an Independent Labour Party amendment demanding that the whole of: the proceeds of such 'a surtax should be devoted to social services.
Tt is estimated that this surtax, which would be a graduated tax averaging 2/- in the £, would yield £85,000,000"a year which would be devoted to replacing taxes on necessaries, developing social services and reducing the country's debt.—Reuter,
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