Word: budgeted
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Dates: during 1930-1939
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...basic income tax rate was raised to 25%. Coalition Philip Snowden having restored in his 1930-31 budget the 6d lopped off the tax by Conservative Winston Churchill in 1925, last week restored the 6d which Conservative Baldwin cut away in 1923. The tax climbed back to five shillings in the pound. The surtax rate on all incomes over $9,720 has been raised 10% in all brackets. Exemptions have been cut to incomes of only $486 a year for single persons and $729 for childless married...
...effect on next year's budget will be this: I have an estimated deficit of $826,200,000, toward which I now have economies totalling $340,200,000; debt savings of $97,200,000; new taxation of $396,090,000?a total...
What It Was About. The Labor Government of Ramsay MacDonald was faced last week with the almost impossible task of balancing a budget with a deficit of some $583,000,000* (TIME...
...George May were a politician he would know that this is a poor year to talk to British voters of budget retrenchments. But he is no vote-monger; he is an able financier, an insurance man. In the report which his committee presented was the blunt warning: "The nation cannot go on borrowing to meet its current requirements." He urged a budget slash of $469,370,000. Labor's Big Five studied the May report sourly last week, looking for some economies which could be put in force without costing political necks...
...Salary and dole reductions would merely aggravate the present situation by adding between 250,000 and 400,000 to the total of unemployed, and would produce a net reduction of only ?50,000,000 instead of the estimated ?120,000.000 deficit in the budget." Next suggestion was a program of Equal Sacrifices for All. All fixed income-bearing investments including municipal bonds were to be taxed 1%. As a "patriotic loan" the 5% Government War loan bonds were to be converted to 4% or 4½%. The total thus saved would be matched by an equivalent cut in Government salaries...