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English parliament convened and imposes the poll tax, 1377
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Personal equity plans (PEPs) introduced, 1987
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Tax-exempt special savings accounts (TESSAs) introduced, 1991
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Rate support grant settlements impose cuts of up to 30% on rates proposed by 20 UK local authorities, 1987
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Income tax introduced in Britain as a temporary measure to help finance the war against Napoleon, 1799
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UK applies for £1b IMF loan, 1976
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George W Bush becomes President of the United States, promising a $1.6 trillion cut in taxes over the next ten years (2001)
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European common agricultural policy comes into operation, 1973
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US Congress ratifies 16th amendment to the constitution allowing it to 'lay and collect taxes on incomes', 1913
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Twenty-fourth amendment makes poll taxes unconstitutional in the United States, 1964
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Adam Smith publishes The Wealth of Nations, 1776
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Budget statement announces UK standard rate of income tax reduced to 22%, with a starting rate of 10%, 1999
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Budget abolishes mortgage interest relief and married couple's tax allowance, 1999
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Norman Lamont's budget raises inheritance tax relief on business property to 100%, 1992
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Budget reduces top income tax rate from 60% to 40%, 1988
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Tax-exempt individual savings accounts announced, 1998
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VAT rate raised to 17.5%, 1991
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The Stamp Act, imposing taxes on newspapers and legal documents, passed by parliament, prompting Benjamin Franklin's comment that "In this world, nothing is certain but death and taxes", 1765
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The Long Parliament endorses excise tax, 1643
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Budget increases in duty on beer, cigarettes, petrol tax, prescription charges, and road fund licence, 1980
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Community charge introduced in England against the background of violent demonstrations in London, 1990
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Introduction of Value Added Tax in the United Kingdom, 1973
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US House of Representatives cuts taxes under the Republicans' Contract With America, 1995
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US Supreme Court declares income taxes unconstitutional, 1895
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At 4 hours 45 minutes, Gladstone's Budget speech is the longest ever (Disraeli's 1853 speech took 5 hours, but included a break), 1853
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UK government announces plan to invest £1,400m in carmaker British Leyland, 1975
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New council tax announced to replace community charge, 1991
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Gordon Brown becomes Chancellor of the Exchequer, 1997
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Tax Freedom Day in the last year of the Heath government, 1974
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TV licence raised 50% (from £2 to £3), 1954
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Iain Macleod, Chancellor of the Exchequer, dies in office and is succeeded by 'the demon printer' Tony Barber, 1970
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California tax revolt as voters overwhelmingly approve Proposition 13 to reduce state taxes, 1978
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US Senate narrowly rejects a balanced budget amendment, 1996
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UK secures £3b standby credit from US and European central banks, 1976
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2.5% surcharge on employers' NI contributions announced, 1978
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Thatcher government's first budget: VAT nearly doubled to 15%, 1979
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Thatcher government's first budget: top rate of income tax reduced from 83% to 60%, standard rate cut by 3p, 1979
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The all-time worst Tax Freedom Day, 1983
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Mrs Thatcher agrees £450m rebate from European Community, 1983
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UK agrees to accept only two-thirds of promised £450m rebate, 1984
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President George Bush reneges on his promise of "read my lips: no new taxes", 1990
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Thatcher government pledges to re-balance budget with a £500m cut in government spending, 1983
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Pay-as-you-go income tax withholding system begins in the US, 1943
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Last date for Euro to replace national currencies, 2002
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Gordon Brown's first Budget raises taxes on fuel, pensions, utilities and married couples
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Chancellor of the Exchequer Denis Healey announces £6 per month statutory limit on pay rises, 1975
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US Congress proposes a constitutional amendment making income tax legal, 1909
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US passes minimum wage law, adding estimated 500,000 job losses to depression total, 1933
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Abolition of the Pay Board and end of statutory incomes policy, 1974
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Royal charter sealed to create the Bank of England, 1694
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Emergency meeting of EC finance ministers; ERM de facto suspended, 1993
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First US income taxes collected, 1862
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John Hampden assessed for ship money but refuses to pay, 1635
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Income tax introduced in the US (at 3% on incomes over $800) as a ten-year temporary measure to help fight the civil war, 1861
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President Reagan signs an historic package of tax and budget reductions, 1981
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Tax on beards imposed by Russian Czar Peter the Great, 1698
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Selective employment tax comes into force, 1966
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Black Wednesday; sterling drops 16% in value and effectively withdraws from ERM, 1992
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UK comes off the gold standard, 1931
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Black Monday as London and New York stock exchanges crash, 1987
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UK's ill-fated membership of ERM begins, 1990
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Austrian economist Friedrich Hayek wins Nobel Prize in Economics, 1974
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US government closes down due to budget problems, an event repeated in subsequent years, 1986
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Wilson government proposes 15% import surcharge to deal with balance of payments crisis, 1964
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Parliament re-imposes the poll tax, 1380
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Atlee's Chancellor, Hugh Dalton, resigns after mistakenly leaking Budget details, 1947
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Minimum Lending Rate raised to 17%, 1979
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Budget announcement of 1p reduction in income tax, 1996
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The Queen volunteers to pay tax on private income, 1992
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Chancellor Kenneth Clarke announces 17.5% VAT on domestic fuel, 1994
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Proposal to extend 17.5% VAT to domestic fuel defeated in Parliament, 1994
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Minibudget raises excise duties to pay for Kenneth Clarke's VAT-on-fuel fiasco, 1994
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European Parliament blocks UK's promised £450m rebate, 1983
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Professor Alan Walters appointed personal economic adviser to the Prime Minister, Margaret Thatcher, 1980
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