Tobacco Documents Online

C C C 1O030(_1qq kI WALL STREET JOURNAL New York, New York April 10, 1962 British Budget Calls for 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.tc:t, SZ•sr,t T~ JorR', aL CtaJJ Repoi•tcr LONDON-The Macmillan Conservative ;;overnment• in the annual budget presented by Se1ti•Yn Lloyd; chancellor of the exchequer, -cme-.v1 at r-t1uc•.n,i ta\- ; on investmeot income oi,i,{ n nl'r, wn r. lat c, d or. aIF ol ~ . , 1v 'cinr' Y _, will (i! Ilu I.a.e c... aL n ~hill:: ,nLl iranv Piru<enol'r] appliances. ~gxrPt Tax : nee .~u oyd specifically refused to step up the tax on tobacco and cigarets. Cigarets cur- rently cost 63 cents a pack. The chancellor had been widely expected to increase the to. 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 that amoking, even in moderation, would be taken quite out of the reach of many people of lirnit• ed means. I an, not prepared to do that." The t:v~i^g, nt mpital ga'-s woulcln't arPl• ,a:.:.., .. (a030~ yy ADVERTISING AGE' May 28, 1962 Britain May Ban TV Cigaret Ads LOND©N, May 23-Cigaret 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 $17,0001000. # JOURNAL 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. Is campaigning against heavy smokers. Generally, the state of Brit- ~ ain's economy makes it pretty sure Mr. Lloyd will stick to his old' philosophy of fighting, for wage and profit restraint, higher output, more exports. Anything savoring of inflation i4 or an easy money policy would ~41 ttndercut his own set of com- ~41 mandments. Nonetheless, Britain's mld- dle-class tasp-ayers would not be surprised if the Chancellor were to grant them a eonces- slon or two. The middle classes have been cbtll>.ng Prime Minister MYc- mIIlan and his Conservatives lately with their voting per- formances in by-elections. A distinct swing from 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.