Tobacco Documents Online

C C C 1O030(_1qq kI WALL STREET JOURNAL New York, New York April 10, 1962 British Budget Calls f or Some Tax Reductions But Macmillan Plans to N.Make 2 Kinds of Capital Gains Subject to the Income Tax Output, Export Rise Sought R!r a\V.tca, STsr,t l•~ JorR', aL CtaJJ Repoi•tcr LONDON-The Macmillan Conservative ;;overnment• in the annual budget presented by Se1ti•Yn Lloyd; chancellor of the exchequer, -cmelv1 at r-t1uc•.n,i ta.- ; on investmeot income oi.i,{ n nl'r, wn r. lat cc, d or. aIF ol ~ . , ; 1v 'cinr' Y _, will ( ,i!_ Ilu I.a.e c... aL n ~hill:: ,nLl Franv Piru<enol'rl appliances. ~gxrPt Ta~nged _ _ .'u oyd specifically refused to step up the tax on tobacco and cigarets. Cigarets cur- rently cost 63 cents a pack. The chancellor had beem widely expected to increase the ta. bacco tax in the wake of a recent medical report declaring once again that smoking causes cancer. Instead, Mr. Lloyd:said: "A further penal increase would mean thaYt amoking, even in moderation, would be taken quite out of the reach of many people of lirnit• ed means. I an, ne* prepared to do that." The t:v~i^g, t,t mpital ga'-s, woulcln't arPl• (a030~ yy ADVERTISING AGE' May 28, 1962 Britain May Ban TV Cigaret Ads LOND©N, May 23-Cigarett ad'- vertising soon may be banned' en- tirely on British television. Reginald Bevins, postmaster gen- eral, told' Parliament last night that the Independent Television Authority was discussing the whole matt'er; including the type and style of cigaret advertising, with its ad- vertising advisory committee. Mr. Bevins said the committee "may recommend a complete ban. If they do, that advice would be mandatory on the authority." Cigaret advertising expenditures •on tv currentUy amount' to about $17,000;000. # JO URNAL AMERICAN New york, New York April 8, 1962 British Taxes .. To Hit Tobacco, Capital Gains: LONDON, April 7 (AP).- Treasury Chief Selwyn Lloyd wen cabinet approval today for a budget expected to hit' prop- erty and stock market specu- lators with a new capital gains tax. Fbrecasters suggested the Chancellor of the Exchequer's annual accounting, to be pre- aented to Commons Monday. may also hoist the already high tax on tobacco. This would - be a way of checking the nation's smoking habits. The governrment, jblted by rising lung cancer figures. !s campaigning against heavy smokers. Generally, the state of Brit- ~ ain's economy makes it pretty Q sure Mr. Lloyd will stick to O his old' philosophy of fighting, W for wage and profit restraint. O higher output, more exports. ~ Anything savoring of inflation or an easy money policy would ~41 ttndercut his own set of com- ~41 mandments. Nonetheless, Britain's mld- u~ dle-class tasp-ayers would not r be surprised if the Chancellor ~ were to grant them a eonces- slon or two. The middle classes have been chtlling Prime Minister MYc- mIIlan and hls Conservatives lately with their voting per- formances in by-elections. A distinct swing frocn the Tories has become evident. But any real cut available al- tuost certainly will have to be kept for 1983, when a general election will be around the corner.