No... I believe that two-tone label is mid to late 50s and later, but I know what you mean - wide waistband and cuffs always make me wonder.
Ballantyne, Pringle & Lyle & Scott all use those kind of details right through into the 60s. Those smallish buttons always tend to make me think mid 50s-60s as well. The actual embellishment may have been added in the factory, or later in the reseller's place, so the methods used in attaching that aren't always the best guide to manufacturing circumstances.
I haven't quite worked out Ballantyne dates properly yet (need more sweaters! haha), but here's what I've got handy online:
A 50s pre-two-tone 'for I Magnin' label (the format, like Pringle, for the 'made for' labels seems to have been uniform and done in the factory):
<img src="http://archive.noirboudoir.com/cashmere/Ballantynelabel50sforImagnin.jpg">
Another, I think, early one - though I have puzzled over this, it has large buttons:
<img src="http://archive.noirboudoir.com/cashmere/ballantynelabelhallebros.jpg">
I'm not sure of the date for this girly sweater yet - could be later than the one above (note the two-tone thingy)
<img src="http://archive.noirboudoir.com/cashmere/ballantynelabel50sforbillltd.jpg">
And here's a later 60s common 'Ballantyne for Lord and Taylor' one:
<img src="http://archive.noirboudoir.com/cashmere/ballantynelabel60sforlordandtaylor.jpg">
Your label has more in common font and colour-wise, with the later labels than the earlier, but I have none of this pinned down properly yet, so can't really insist on a date one way or another.
Bear in mind that although Pringle had had a label for a while (still wavering about how early it goes), Lyle and Scott only appear to have introduced a uniform brand label in 1949, and I'm not clear what date the earliest Ballantyne label is.
You know, I was going to do my Scottish Cashmere write-ups in article form in time for autumn...
