William Ewart Gladstone1853
123 duties are abolished and 133 duties are reduced, income tax had legally expired but Gladstone proposed to extend it for seven years to fund tariff reductions
Great Britain · Government / Coalition Government. Chronological records rendered directly from the World History Database.
123 duties are abolished and 133 duties are reduced, income tax had legally expired but Gladstone proposed to extend it for seven years to fund tariff reductions
Increases bonds, raises loans & doubles income tax to 1s 2d to pay for the Crimean war. Gladstones first budget almost completes the work begun by Peel eleven years before in simplifying Britains tariff of duties and customs.
Increases the number of people eligible to pay income tax by lowering the threshold from pounds 150 to pounds 100, the more people who paid income tax, Gladstone believes, the more the public will pressure the Government into abolishing it & Gladstone argues that pounds 100 is "the dividing line...between
the educated and the labouring part of the community" and therefore the income tax payers and the electorate will be the same people, who will then vote to cut Government expenditure.
Gladstone has to increase expenditure on the Services and a vote of credit of pounds 1,250,000 is taken to send a 25,000 to the East so the deficit for the year would be pounds 2,840,000 but Gladstone refuses to borrow the money needed to cover
Gladstones 3rd budget, by May pounds 6,870,000 is needed to finance the Crimean war so Gladstone raises the income tax from 10 and a half pence to 14d and to raise pounds 3,250,000; spirits, malt, and sugar are taxed to raise the rest of the
money needed.
the deficit and increases the income tax by one half from sevenpence to tenpence-halfpenny in the pound (from 2.92% to 4.38%)
Introduces a wartime budget as Britain enters the Crimean War and government expenditure rises.
George Osborne presents the 2010 Budget to the House of Commons as Chancellor of the Exchequer.
George Osborne presents the 2011 Budget to the House of Commons as Chancellor of the Exchequer.
George Osborne presents the 2012 Budget to the House of Commons as Chancellor of the Exchequer.
George Osborne presents the 2013 Budget to the House of Commons as Chancellor of the Exchequer.
George Osborne presents the 2014 Budget to the House of Commons as Chancellor of the Exchequer.
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