Great Britain · Government / Liberal Party Government. Chronological records rendered directly from the World History Database.
The budget reduces the number of duties to 48, with 15 duties constituting the majority of the revenue but to finance these reductions in indirect taxation, the income tax, instead of being abolished, is raised to 10d. for incomes above pounds 150 and at 7d. for incomes above pounds 100
Income tax was reduced to ninepence in 1861; in 1863 to sevenpence; in 1864 to fivepence; and in 1865 to fourpence
Income tax was reduced to ninepence (pounds 00s9d) in 1861; in 1863 to sevenpence; in 1864 to fivepence; and in 1865 to fourpence
Gladstone promises to abolish income tax!
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