British Budget Cuts Overseas Investment and Tax Reform
Britain orders voluntary curbs on investments in Australia, New Zealand, South Africa and Ireland to balance payments. Callaghan ends import tax in November and imposes a new selective tax to shift labor to manufacturing, while the three-year plan aims for a stronger pound, full employment and growing industry.
MENTIONED IN THIS ARTICLE
James Callaghan
House of Commons
Australia
New Zealand
South Africa
Irish Republic
Heath
Britain
European Free Trade Association
MacDermot
Australian
Europe
Callaghan
Treasury
Atr Callaghan
Australias
London
Cillaghan
Tate
Ireland
Budget's main points spark 1966 tax shifts and savings
The Budget by Chancellor Callaghan outlines a voluntary programme to cut balance of payments outflows by 50 to 100 million pounds annually, ending the 10 percent import surcharge in November, and a payroll tax to improve labour mobility. It omits income tax rises and keeps duties on beer tobacco and spirits unchanged.
MENTIONED IN THIS ARTICLE
Exchequer
Mr Callaghan
House of Commons
Scandinavia
Daily Express
Daily Mail
Times
D Sheteh
The
Dinily Mail
Britain Tells Firms to Delay Sterling Area Investments
Prime Minister Callaghan announces a voluntary program to slow investment from the United Kingdom to developed sterling area countries. Companies are urged to postpone new investments, seek local funding, and submit proposals to the Bank of England for review to ensure a quick, substantial balance of payments benefit.
MENTIONED IN THIS ARTICLE
House
Britain
United Kingdom
Developed Sterling Area
Australia
New Eland
South African
Irish Republic
Counses
Mer Callaghan
The
Bank of Enghand
Payroll tax set to shift workers from service to industry
The Budget introduces a payroll tax paid by employers from September. Men face 12 a week, women and juniors less. manufacturers receive a refund plus a premium, totaling 34 05 a week per man. Critics argue it diverts manpower from banks and laundries to manufacturing. The net effect is about 600 million pounds yearly, akin to a 5 percent rise in income tax.
Britain Lifts Surcharge Acknowledged by European Partners
European reaction to Britain's removal of the surcharge includes EEC praise as proof of sincere effort to improve ties and EFTA members urging that the tax should never have been imposed. French and Swedish officials react with cautious optimism while British papers debate the budget and investment flows.
MENTIONED IN THIS ARTICLE
Beussels
Enplpal Oa
Britain
European Free Trade Association
EFTA
House of Commons
Cullarhin
Mirassely
EEC
Paris
Norwig Fan Eppa
Lyng
Sweden
Mether
Geneva
Bredget
Tax pacts urged to boost Australian exports
Australia should seek double taxation agreements with Japan and West Germany to stimulate overseas investment and growth. ACMA president Mir L. Ware argues joint ventures with maximum Australian content can ease export licensing and boost exports, while ACMA director RR Pelham Thormin criticizes Britain’s overseas investment cuts as shortsighted.
MENTIONED IN THIS ARTICLE
Japan
West Germany
Mir L. H. Ware
Associaed Chambers of Manufacturers
Riilenos
Austral
Ags
Walin
Wale
Associed
Chamber of Commerce
RR. Pelham Thormin
Britain
Living Tissue Denture Cushions Offer From Australia
Advertisement for Snug Denture Cushions marketed as a soft tasteless cushion that grips dentures, promising weeks of comfort and no daily replacement. Special trial offer asks 60 cents for one cushion, sent to Fulford Williams Pty. Ltd., 33 College Street, Gladesville, NSW.
MENTIONED IN THIS ARTICLE
Fulford Williams Pty. Ltd
College Street
Gladesville
N.S.W
Also Mentioned on This Page
Sterling
Hawksley
Norm Beresford Pty Ltd
Whyalla Street
Fyshwick
China and Glass Dept
Arantee
Newesterling
Bank of England
Bex
John Parker
Henry Streat
Cardiff
Meckers
En. Crown and Campbell
Mais Oy
D.j’s
General Electric
D.J
Dj's Electrical Department
G.E
Wee mC TN
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