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Chapter 730 - 730 27 The Clash Between Old and New Nobility_2

730: Chapter 27, The Clash Between Old and New Nobility_2 730: Chapter 27, The Clash Between Old and New Nobility_2 However, for the emerging nobility who are financially strained, being asked to allocate additional funds towards debt repayment each year could be devastating.

Realizing this, Hudson decided to ignore it and sit back as a spectator.

“Honorable Earl Piers, your proposal to repay the debt earlier is indeed a good idea, but we must consider reality.

The kingdom is still recovering and rebuilding after a war.

In particular, the seven provinces in the north that have just returned to the kingdom’s embrace are likely unable to shoulder this expense!”

Count Orlan spoke up reluctantly.

As an undeveloped land, there is naturally no tax.

Normal tax burdens don’t need to be borne, and that does not mean that the taxes for debt repayment don’t need to be shared.

There are no clear regulations for these temporary special taxes.

However, according to previous practices, they will most likely have to pay.

If the territory is in bad condition and relying on previous resources, even a deeply rooted clan would have to economize at this time.

If we really follow Earl Piers’ proposal, they would have to cover some of the amortization in the southeastern province and a corresponding share in the north.

After adding it all up, the Hollis family is estimated to bear even more than the Koslow family.

The worst part is that these funds have to be paid out every year, and the amount is most likely to increase annually.

With a large amount of funds being withdrawn, the development of the territory and the relocation of immigrants will definitely be affected.

“Count Orlan, that is not quite right.

The kingdom has always adhered to the principle of fairness, equating rights and obligations.

Since we are seated here, we have to take on the corresponding responsibilities.

If we all complain about it, what about the people below us?

Earl Piers’ proposal just now is pretty good.

These debts will need to be repaid sooner or later.

By taking back some war bonds in advance, we can save some interest.

Really, if it drags on for a few more years to the debt redemption period, we all have to muster up nearly a hundred million in funds at once, that would really be impossible.”

Count Carlos said with a chuckle.

Seeing this, Hudson showed a cold smirk.

Seemingly always talking about fairness, but in reality, it’s just a way for the established nobles to suppress the emerging ones.

Once the proposal is passed, they can legally deplete the funds of the emerging nobility, delaying everyone’s development.

If something else were to happen in the process, the emerging major nobles that have just risen could potentially be struck down.

Situations like this are commonplace on the continent of Aslante.

Over half of the emerging major nobles will decline within a few decades.

Faced with the eager eyes of the emerging nobles, Hudson knew that this was the time to act on his own behalf.

Everyone has their own circles.

Facing oppression from the established nobles, the emerging nobles have also formed loose alliances in secret.

However, this emerging political group is too loosely formed and can’t even be called an alliance.

When facing the established nobles, there were not many willing to speak up.

Renowned Hudson easily gained influence within the group.

“Count Carlos, you are absolutely correct.

The Kingdom’s overall situation is indeed vital to every one of us present here, but realistic issues are just as important!

When formulating a policy, we must first carry out a thorough investigation.

Only after understanding the actual situation can we make the most reasonable decision.

You probably have some idea of what the recently recaptured seven northern provinces are like.

Developing this land is not something that can be achieved overnight.

Imposing kingdom’s debt on struggling noble lords isn’t their responsibility, it is asking for their lives!

If we are all raising funds, why not find another way?

Instead of rigidly allocating based on territory, why not distribute it in profitable industries such as salt, tea, spices, carriages, and entertainment?”

Just as Hudson finished speaking, he immediately caused the experienced nobles to frown.

Allocating debt repayment into industry taxes looked like a way to get money from merchants, but in reality, it was a cut in their profits.

The prosperous business districts were all within the territories of established nobles.

Increasing the taxes on profitable industries meant taking more money from their territories.

If one were to study this closely, they would find that these profitable industries were all backed by these established nobles.

“Earl Hudson, it seems like you forgot some industries, such as weapon manufacturing, iron production, and magical beast juvenile trading.

The profits from these industries are also pretty high!”

Count Martins, sitting nearby, chirped in gleefully.

They would only feel the pain once they are personally affected.

To him, Hudson was simply talking big.

With a hint of a smile, Hudson confidently faced the cynical gazes of the established nobles.

“Count Martins, you’ve made a necessary reminder.

However, there are so many profitable industries; it’s too hard to list them all at once.

How about this: we all list the profitable industries as we see fit and discuss them together.

Of course, obsolete information is unnecessary.

For instance: weapon manufacturing.

The war has just ended a little over a year ago.

Everyone has a surplus of weapons, and there is no market in the kingdom right now.

Oh right, it seems that the ironmaking industry is also in decline.

Most people working in this industry are running it at a loss.”