|
1981 United Kingdom Budget
The 1981 United Kingdom budget was delivered by Geoffrey Howe, the then Chancellor of the Exchequer, to the House of Commons on 10 March 1981. It was Geoffrey Howe's third budget and the second of the first Thatcher ministry. The budget represented a strongly monetarist response to the stagflation and high government borrowing which the UK was suffering at the time. The budget speech lasted for 91 minutes. Background The budget was given during a time of significant economic malaise in the United Kingdom, with unemployment having increased by almost one million in the prior 12 months and inflation running at around 15%. Measures The budget increased net taxes by £4 billion (in 1981 prices). A new 20% tax on North Sea oil was introduced. A one-off windfall tax on certain bank deposits was introduced, in the form of a 2.5% levy on deposits of banking businesses, charged by reference to non-interest bearing sterling deposits in excess of £10 million averaged over the final t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of MPs Elected In The 1979 United Kingdom General Election
This is a list of Member of Parliament (United Kingdom), Members of Parliament (MPs) elected in the 1979 United Kingdom general election, 1979 general election, held on 3 May. This Parliament was dissolved in 1983 United Kingdom general election, 1983. Parliament of the United Kingdom, Parliament, which consists of the House of Lords and the elected House of Commons, was State Opening of Parliament, convened on Tuesday 15 May 1979 at the Palace of Westminster by Elizabeth II, Queen Elizabeth II. Of the 77 newcomers, two were women (Sheila Faith and Sheila Wright). In total, the Parliament had 19 female members (8 Conservative, 11 Labour), fewer than any post-war parliament before or since, with the sole exception of 1951. It was the election from which Margaret Thatcher, the incumbent Conservative Party (UK), Conservative Party leader became Prime Minister of the United Kingdom, Prime Minister, the first female head of government in the United Kingdom and Europe. Composition ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Windfall Profits Tax
A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry. There have been windfall taxes in various countries across the world, including Mongolia, Australia, and on wind power in Turkey. Australia In Australia, windfall taxes include: * Commonwealth places windfall tax, imposed under the ''Commonwealth Places Windfall Tax (Collection) Act 1998'' (1998 No 25) and the ''Commonwealth Places Windfall Tax (Imposition) Act 1998'' (1998 No 26) * Franchise fees windfall tax, imposed under the ''Franchise Fees Windfall Tax (Collection) Act 1997'' (1997 No 132), ''Franchise Fees Windfall Tax (Imposition) Act 1997'' (1997 No 133), and ''Franchise Fees Windfall Tax (Consequential Amendments) Act 1997'' (1997 No 134) In both cases, windfall tax originates in High Court decisions that certain state taxes were unconstitutional. Thus, the States were required to repay to the taxpayers the amounts previously collected under th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United Kingdom Budgets
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1981 In British Politics
Events January * January 1 ** Greece enters the European Economic Community, predecessor of the European Union. ** Palau becomes a self-governing territory. * January 10 – Salvadoran Civil War: The Farabundo Martí National Liberation Front, FMLN launches its first major offensive, gaining control of most of Morazán Department, Morazán and Chalatenango Department, Chalatenango departments. * January 15 – Pope John Paul II receives a delegation led by Polish Solidarity (Polish trade union), Solidarity leader Lech Wałęsa at the Vatican City, Vatican. * January 20 – Iran releases the 52 Americans held for 444 days, minutes after Ronald Reagan is First inauguration of Ronald Reagan, sworn in as the 40th President of the United States, ending the Iran hostage crisis. * January 21 – The first DMC DeLorean, DeLorean automobile, a stainless steel sports car with gull-wing doors, rolls off the production line in Dunmurry, Northern Ireland. * January 24 – An 1981 Dawu ea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gang Of 25
The Gang of 25 or the Group of 25 was a cohort of British Conservative Party (UK), Conservative Party backbench members of Parliament (MPs) that threatened to vote against prime minister Margaret Thatcher's 1981 Autumn Statement. The statement contained monetarism, monetarist measures to control inflation. Similar measures introduced since 1979 had reduced inflation but caused job losses in the manufacturing sector. The majority of the Gang put their names to a 25 November letter to Thatcher's Chief Whip, Michael Jopling, that stated they would vote against any deflationary economic measures. A potential revolt by the Gang, plus twenty others suspected by Jopling, could negate the Conservatives' 45-seat majority and lead to the government being defeated in the House of Commons of the United Kingdom, House of Commons. The move came at a low point for Thatcher, following the 1981 Brixton riot, Brixton and 1981 Toxteth riots, Toxteth riots and when the new SDP–Liberal Alliance was O ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Christopher Brocklebank-Fowler
Christopher Brocklebank-Fowler (13 January 1934 – 29 May 2020) was a British politician. In 1981, he defected to the Social Democratic Party (SDP), the only Conservative Member of Parliament to do so. He then joined the Liberal Democrats, followed by Labour, thereby being a member of four political parties within 15 years. Early life and education Brocklebank-Fowler was born on 13 January 1934 as the second son of the solicitor Sidney Brocklebank-Fowler and his wife Iris Beechey. He attended primary school on the west coast of Scotland before moving to be educated at The Perse School in Cambridge. He later studied for a diploma in agriculture at the University of Oxford.Former Norfolk MP who defected from the Conservatives to SDP dies Easter ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The Times
''The Times'' is a British daily national newspaper based in London. It began in 1785 under the title ''The Daily Universal Register'', adopting its current name on 1 January 1788. ''The Times'' and its sister paper ''The Sunday Times'' (founded in 1821) are published by Times Newspapers, since 1981 a subsidiary of News UK, in turn wholly owned by News Corp. ''The Times'' and ''The Sunday Times'', which do not share editorial staff, were founded independently and have only had common ownership since 1966. In general, the political position of ''The Times'' is considered to be centre-right. ''The Times'' is the first newspaper to have borne that name, lending it to numerous other papers around the world, such as ''The Times of India'', ''The New York Times'', and more recently, digital-first publications such as TheTimesBlog.com (Since 2017). In countries where these other titles are popular, the newspaper is often referred to as , or as , although the newspaper is of nationa ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Michael Foot
Michael Mackintosh Foot (23 July 19133 March 2010) was a British Labour Party politician who served as Labour Leader from 1980 to 1983. Foot began his career as a journalist on ''Tribune'' and the ''Evening Standard''. He co-wrote the 1940 polemic against appeasement of Adolf Hitler, ''Guilty Men'', under a pseudonym. Foot served as a Member of Parliament (MP) from 1945 to 1955 and again from 1960 until he retired in 1992. A passionate orator, and associated with the left wing of the Labour Party for most of his career, Foot was an ardent supporter of the Campaign for Nuclear Disarmament and of British withdrawal from the European Economic Community (EEC). He was appointed to the Cabinet as Secretary of State for Employment under Harold Wilson in 1974, and he later served as Leader of the House of Commons (1976–1979) under James Callaghan. He was also Deputy Leader of the Labour Party under Callaghan from 1976 to 1980. Elected as a compromise candidate, Foot served as t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
North Sea Oil
North Sea oil is a mixture of hydrocarbons, comprising liquid petroleum and natural gas, produced from petroleum reservoirs beneath the North Sea. In the petroleum industry, the term "North Sea" often includes areas such as the Norwegian Sea and the area known as "West of Shetland", "the Atlantic Frontier" or "the Atlantic Margin" that is not geographically part of the North Sea. Brent crude is still used today as a standard benchmark for pricing oil, although the contract now refers to a blend of oils from fields in the northern North Sea. From the 1960s to 2014 it was reported that 42 billion barrels of oil equivalent (BOE) had been extracted from the North Sea since when production began, and there is still a potential of 24 billion BOE left remaining there, which is equivalent to about 35 years worth of production, the North Sea will remain as an important petroleum reservoir for years to come. History 1851–1963 Commercial extraction of oil on the shores of the North Sea ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conservative Party (UK)
The Conservative Party, officially the Conservative and Unionist Party and also known colloquially as the Tories, is one of the Two-party system, two main political parties in the United Kingdom, along with the Labour Party (UK), Labour Party. It is the current Government of the United Kingdom, governing party, having won the 2019 United Kingdom general election, 2019 general election. It has been the primary governing party in Britain since 2010. The party is on the Centre-right politics, centre-right of the political spectrum, and encompasses various ideological #Party factions, factions including One-nation conservatism, one-nation conservatives, Thatcherism, Thatcherites, and traditionalist conservatism, traditionalist conservatives. The party currently has 356 Member of Parliament (United Kingdom), Members of Parliament, 264 members of the House of Lords, 9 members of the London Assembly, 31 members of the Scottish Parliament, 16 members of the Senedd, Welsh Parliament, 2 D ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stagflation
In economics, stagflation or recession-inflation is a situation in which the inflation rate is high or increasing, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment. The term, a portmanteau of '' stagnation'' and ''inflation'', is generally attributed to Iain Macleod, a British Conservative Party politician who became Chancellor of the Exchequer in 1970. Macleod used the word in a 1965 speech to Parliament during a period of simultaneously high inflation and unemployment in the United Kingdom.Introduction, page 9. Warning the House of Commons of the gravity of the situation, he said: Macleod used the term again on 7 July 1970, and the media began also to use it, for example in ''The Economist'' on 15 August 1970, and ''Newsweek'' on 19 March 1973. John Maynard Keynes did not use the term, but some of his work refers to the conditions that ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarism
Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation. Monetarist theory asserts that variations in the money supply have major influences on measures of national income and output, national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary policy, discretionary monetary policy.Phillip Cagan, 1987. "Monetarism", ''The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to reject Keynesian economics and criticise Keynes's theory of fighting economic downturns ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
