§ Mr. Callaghan
I will not try to sum up a Budget as wide-ranging as this. But I should like to express in a sentence or two the thinking behind it.
I want to encourage industry to be more dynamic and productive, to reform the tax system, to get a proper return for our heavy expenditure and to be fair. I put this point to the Committee. I ask hon. Members to listen tome,
|TABLE: SPIRITS OTHER THAN IMPORTED PERFUMED SPIRITS
(RATES OF CUSTOMS AND EXCISE DUTIES)
|Description of spirits||Excise rate||Customs rates|
|1. British spirits (per proof gallon)||14||12||0||—||—||—|
|2. Imported spirits other than perfumed spirits—|
|(a) not comprised below in this paragraph (per proof gallon)||—||14||14||6||14||12||0||14||12||0|
|(b) liqueurs, cordials, mixtures and other preparation in bottle, entered in such manner as to indicate that the strength is not to be tested (per gallon)||—||19||18||0||19||14||6||19||14||6|
|each of the above rates of duty being, in the case of spirits not warehoused or warehoused for less than 3 years, increased by Is. 6d. per proof gallon or, for spirits within paragraph 2(b) of this table, by 2s. 0d. per gallon.|
§ because it is vital to our whole thinking. In the City I have no doubt that many people will feel it hard that capital gains should be taxed or overseas investment more strictly judged in the national interest. But I would remind them that it is just as hard for the trade unionist to accept the limitations of an incomes policy; and much harder for a miner, an aircraft worker or a railwayman to be told that his contribution is to give up his job and change to another.
§ The Government"s aim is not to divide our people, but to unite them in an endeavour greater than we have ever made in peace time to secure national solvency, to ensure economic progress and to secure the full fruits of the people"s industry. Rarely have I been more conscious of the country"s difficulties than I am today, and never have I been more confident of the outcome.