The June 1979 United Kingdom budget was delivered by Geoffrey Howe, the Chancellor of the Exchequer, to the House of Commons on 12 June 1979. It was Howe's first budget and the first of the first Thatcher ministry, which had been elected a few weeks earlier. It was also the second budget to be delivered to Parliament in 1979. The budget marked a major change in direction for the UK economy, with an increase in reliance on interest rates and monetary policy to control inflation. It is also noted for its introduction of substantial tax cuts, such as reducing the top rate of income tax from 83% to 60% and the basic rate from 33% to 30%. The budget also saw an increase in VAT from 8% to 15%.
In his budget speech, Howe told the House of Commons "we cannot go on avoiding difficult choices".
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JUNE 1979 CALENDAR OF THE MONTH: FREE PRINTABLE JUNE CALENDAR OF THE ...
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June 1979 Monthly Calendar (PDF, Word, Excel)
June 1979 Monthly Calendar (PDF, Word, Excel)
Best are born in June 1979. Born in June 1979 the legend Birthday ...
The June 1979 United Kingdom budget was delivered by Geoffrey Howe, the Chancellor of the Exchequer, to the House of Commons on 12 June 1979. It was Howe's first budget and the first of the first Thatcher ministry, which had been elected a few weeks earlier. It was also the second …
12 June – The new Conservative government's first budget sees chancellor Geoffrey Howe cut the standard tax rate by 3p and slashing the top rate from 83% to 60%. 18 June – Neil Kinnock , 37-year-old Labour MP for Islwyn in South Wales , becomes shadow education spokesman.
Jun 13, 1979 · LONDON, June 12 — Britain's new Conservative Government laid out its plans today for the most radical change in the country's economic direction since the Labor Party's quiet revolution of the...
1979 United Kingdom budget may refer to: April 1979 United Kingdom budget; June 1979 United Kingdom budget
In the debate yesterday, the Leader of the Opposition concluded with the comment that my right hon. and learned Friend's Budget was a reckless gamble with our economic future"—[Official Report. 12 June 1979; Vol. 968, c. 270.]
According to the OECD figures, the percentage of public revenue raised by direct taxation in 1976 was: Denmark, 62 per cent., the United States, 57 per cent., Australia, 57 per cent., the United Kingdom, 55 per cent., and Sweden, 52 per cent.
United Kingdom - General government expenditure ... Defence Expenditure (%GDP) Government budget deficit; United Kingdom - General government expenditure. Date Expenditure (M.€) Defence Expenditure (%Bud.) Expenditure (%GDP) Expenditure Per Capita; 1979: 139,121.8: …
Budget, June 1979: representations from companies and organisations. Date: 1979 Jan 01 - 1979 Dec 31 Held by: The National Archives, Kew: Former reference in its original department: FP...
