[Intl-tobacco] Beazley promises to close tax loophol.... (fwd)

[Robert Weissman]

Beazley promises to close tax loophol....

Source: Australian Broadcasting Corporation, Sunday, 2/27/00

The Federal Opposition has promised to end research tax breaks for the
tobacco industry.

The Federal Government each year gives tobacco companies $400,000 in tax
concessions for research and development programs.

Philip Morris Australia has received government assistance to develop more
efficient cigarette making machines and high tar cigarettes for export.

Mr Beazley says previous Labor Governments have also provided similar tax
breaks, but that policy has now changed.

"Our view would be you should target the new industries, that we need the
new industries that are the clever industries that advance our knowledge
as a people and advance our productivity as a people," he said.

"I strongly suspect that cigarettes don't come into that capacity."
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        =A9 1999 Australian Broadcasting Corporation