The Chancellor Meets His Match

John Maloney

Chapter 9 in The Political Economy of Robert Lowe, 2005, pp 89-115 from Palgrave Macmillan

Abstract: Abstract Lowe inherited a fiscal State which, in the Tories’ last full year in office, had spent £71,236,000, around 9 per cent of national income. Of this, £2 million was a special grant to finance the Abyssinian expedition. Of the remainder, three-eighths was devoted to servicing the debt, and three-eighths to ordinary military (including Indian military) expenditure. The cost of tax collection accounted for 4 per cent of spending, and the (profitable) outlay on posts and telegraphs 5 per cent. That left £10,385,000 for expenditure on civil administration, of which two-thirds came under three headings: law and justice (£3,021,000), civil service and diplomatic salaries and expenses (£2,276,100) and education (£1,597,400). Most of the rest comprised public works and buildings and the upkeep of the monarchy.

Keywords: Public Spending; Indirect Taxis; Direct Taxation; Defence Spending; Debt Reduction (search for similar items in EconPapers)
Date: 2005
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50404-2_9

Ordering information: This item can be ordered from
http://www.palgrave.com/9780230504042

DOI: 10.1057/9780230504042_9

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().