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t. e. In the United Kingdom, the value added tax (VAT) [ 1] was introduced in 1973, replacing Purchase Tax, and is the third-largest source of government revenue, after income tax and National Insurance. It is administered and collected by HM Revenue and Customs, primarily through the Value Added Tax Act 1994 .
Tax revenues as a percentage of GDP for the UK in comparison to the OECD and the EU 15. In 1971, the top rate of income tax on earned income was cut to 75%. A surcharge of 15% on investment income kept the overall top rate on that income at 90%. In 1974 the top tax rate on earned income was again raised, to 83%.
The economic history of the United Kingdom relates the economic development in the British state from the absorption of Wales into the Kingdom of England after 1535 to the modern United Kingdom of Great Britain and Northern Ireland of the early 21st century. Scotland and England (including Wales, which had been treated as part of England since ...
Reducing demand for UK exports, also high interest rate defending the gold standard. UK came off gold standard September 1931. 3–5% deflation pa. UK much less affected than US. Took 16 quarters for GDP to recover to that at start of recession [13] after a 'double dip'. 1956 recession: 1956 Q2 1956 Q3: 0.5 years (2 Qtrs) [14]
British Airways plc ( BA) is the flag carrier airline of the United Kingdom. It is headquartered in London, England, near its main hub at Heathrow Airport. [ 5][ 6] The airline is the second largest UK-based carrier, based on fleet size and passengers carried, behind easyJet. In January 2011 BA merged with Iberia, creating the International ...
The dates of these opinion polls range from the previous general election on 4 July 2024 to the present. The next general election must be held no later than 15 August 2029 under the Dissolution and Calling of Parliament Act 2022. The Act mandates that any Parliament automatically dissolves five years after it first met – unless it is ...
In sharp contrast, the period between 14,300 and 11,100 years ago, which includes the Younger Dryas interval, was an interval of reduced sea level rise at about 6.0–9.9 mm/yr. Meltwater pulse 1C was centered at 8,000 years ago and produced a rise of 6.5 m in less than 140 years, such that sea levels 5000 years ago were around 3m lower than ...
The 2010 United Kingdom general election was held on Thursday 6 May 2010, to elect Members of Parliament (or MPs) to the House of Commons. The election took place in 650 constituencies [ note 2] across the United Kingdom under the first-past-the-post system. The election resulted in a large swing to the opposition Conservative Party led by ...