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Andrew Bonar Law

From The Great War On This Day
Photographic portrait of Bonar Law, dated between 1915–20

Timeline of events.

1914

2 August Writes letter to Herbert Asquith.
14 December Aforementioned letter is published.

1916

11 January Terms of new British War Loan announced by Lloyd George and Bonar Law at Guildhall.

1917

19 March Makes financial statement.[a]
26 March Appeals to strikers.
2 May Introduces the Budget for £2,290,000,000.[b]
9 May Asks for Vote of Credit, 500 million.
13 August Announces no issue of passports for Stockholm Conference.

1918

11 April Speeches on "Man power Bill".
22 April Introduces the Budget.[c]
31 July On Trade Policy.

Notes

  1. Total financial expenditure for financial year, 1 April, 1916 to 31 March, 1917, would average £6,000,000 a day, with an additional million per day during last six weeks. Nominal total of National Debt, £3,900,000,000. Total due from Allies and Dominions to this country in respect of advances made during war, £964,000,000.
  2. No new taxes. Total estimated expenditure at £2,290,000,000, with a revenue of £639,000,000.
  3. Budget proposals:— Income tax to be raised to 6s.; new allowances for wives; Farmers' tax doubled; Super-tax up to 4s. 6d.; Twopenny cheque stamp; Beer and Spirits duty doubled; Tobacco and Match duty raised; Sugar duty raised; Luxury tax; Letter rate raised. Expenditure, £2,972,197,000; Revenue, £842,050,000; Deficit £2,130,147,000.
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