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Financial Policy.

4. Restriction of public borrowing, except for conversion of existing loans.

5. A graduated tax on the unimproved value of land, subject to an exemption of £500.

6. A cumulative tax on incomes over £200 per year.

(Note.—This resolution was carried unanimously by Annual Conference, March, 1907:—“The Conference regrets that any misconception exists in relation to the respective fields of operation of the land and income taxes, and affirms the principle that the income tax is not intended to apply to land, or the produce of land that is subject to a land tax.”)

7. The establishment of a State Bank, and extension of the Credit Foncier system to the whole State.

8. The establishment of a State Life and Fire Insurance Department.

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