March 28, 1933 (17th Parliament, 4th Session)

CON

Henry Herbert Stevens (Minister of Trade and Commerce)

Conservative (1867-1942)

Mr. STEVENS:

They will not. That is their own lookout. As far as we are concerned, we believe it is in the interest of the primary producers. Will they support the increase in the income tax? They will not discuss it, but they will condemn the government that undertakes it. They will twit the government on being the friend of the big interests, although we are increasing the corporation tax from 11 to 12i per cent. In their resolution they condemn us for doing this. The other day the hon. member condemned us in so many words for imposing the five per cent tax on earnings from bonds held outside Canada. He stood in his place, with the right hon. gentleman behind him, and said to the Minister of Finance that he warned him that this was not a very promising source of revenue and something that might result in
The Budget-Mr. Stevens

serious trouble for him. Perhaps I am a little mean in saying this, but my hon. friends have rather provoked it. I wonder: When the hon. gentleman made that utterance, was he speaking as a legal man from the great city of Montreal or as a friend of the poor taxpayer of Canada.

Topic:   THE BUDGET
Subtopic:   CONTINUATION OF DEBATE ON THE ANNUAL FINANCIAL STATEMENT OF THE MINISTER OF FINANCE
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