Tobacco Documents Online

C 100 31539t~6 I WALL STREET JOURNAL New York, New York Apri~ 10, 1962 British Budget ~C'alls f or Some Tax Ryeductions But Macmillan Plans to Make 2 Kinds of Capital Gains Subject to the Income Tax output, Export Rise Sought B,r1 a\VArta. St•aEET JoraNA[. 4taA' Reporfier LO?JDON-The Macmillan Conservative gcevernment, in the annual budget presented by Selwyn Lloyd, chancellor of the exchequer. -omew!:at rpditcPd tae, + on inx•estment income oii+,~ Iwmle, 'enii cc tat : ard on salo of u ',u• w 'ci,id . .4 x. nu e. wiil c,tt IhI ka_e' u., aL mohiloy, and mamy lhhuscnold appliances. ~aret Tax i'n~n~ ~a__ MF.=oyd specifieadly 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 medicad report declaring once, again that smoking causes cancer. Instead, Mr. Lloyd said: "A further penali increase would mean, that smoking, even in moderation, would be taken quite out of the reachiof many people of limit. ed means. I ant not prepared to do that." The ta-\iing rof' clknirtal ga-MS wniiltln't aprl^ ",Q , .,,. • .in= - ., 1W 35 3r1'~~1.R ADV=SING AGE May 28, 1962 Britain May Ban TV Cigaret Ads LONDON, May 23-Cigaret ad- vertising soon may be banned en- tirely on British television. Reginald~ Bevins, postmaster gen- erall told Parliament last night that the Independent Television. Authority was dlscussing,the whole matter, including the type and stylee of cigaret advertising, with its ad- vertising advisory committee. Mr. Bevins said the committee "may recturnmend' a complete ban. If they do, that advice would be mandatory on the authority." Cigaret advertising expend'ithzres -on tv currently amount to about $17,000,000. # JOURNXANERI CAN New york, New ybrk April 8, 1962 British TQ'xes ,: ~ . . . . .. .. . J~,~ t .v.~.. To Hit Tobacco, Capital Gains hONDON.. April 7 (A,P9 :- Treasury Chief Selwyn Lloyd won cabinet ¢pproval today for a budget ejrpected.to hit prop- erty and stock market specu- lators with a new capital gains tax. ; Pbrecasters suggested the Chancellor - of the Exchequer's annual accounting, to be pre- sented to Commona Monday. may also hoist the already high tax ori tobacco. This wonld • be a way of' checking the nation's smoking habits. The sovernment, jolted by rising lung cancer figures, Is campaigning against heavy amokers. Generally, the state ot' Brdt- 'iain'a economy makes It pretty sure Mr. Lloyd will stick to his old phllosophy of fighting, Qor wage and profit restraint, higher, ooutput, more exports.. Anything savoring of Inflation or an easy money policy would undercut' his own set of com- rnandments: Nonetheless, Britain's mid, dlt-class taxpayers would not be surprised if the Chancellor e were to grant them a conces- sion or two. . •. The middle ciasses have been chilling Prime Minister Mac- millan and his Conservatives liately with their voting per+ formancer itt by-electiona: AA distinct swing from the Tories 5as become evident. But any real1 cut available al- most certainly will have to be kept for 1983. when a general election will be around the corner.