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Growing War Effort Reflected in Canada Tax Revenue Rise
Figures presented to the House of Commons by Finance Minister J L Ilsley show total direct taxation lifting national revenue by 347.2 million for the year to May 31 1942 with income tax up 105.1 million defense tax 86.9 million and excess profits tax 155.2 million. The Bank of Nova Scotia survey notes industrial employment up thirty percent since the war and farm cash income rising to 876 million in 1941, while war needs push metal and forest product output higher.
MENTIONED IN THIS ARTICLE
House of Commons
J. L. Ilsley
Ilsley
Mr. Ilsley
National Defence
Canada
Bank of Nova Scotia
United Nations