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William Harcourt, successful promoter of 1894 reforms. The succession duty's taxation of the life interest in real property, as opposed to its full capital value, was seen to be unfair to heirs of different ages, as elder heirs effectively received a life interest that was lower in value than one received by a younger heir, even when they were shares in the same property.
Gladstone's dividing line set up in 1853 had been abolished in 1858 but Gladstone revived it, with lower incomes to pay 6½d. instead of 9d. For the first half of the year, the lower incomes paid 8d. and the higher incomes paid 13d. in income tax.
Advertisement duty was abolished in 1853, followed by newspaper stamp duty in 1855. The paper duty was removed in 1861. [ 33 ] William Gladstone , as Chancellor of the Exchequer, repealed the paper duties, but only after a false start in 1860, when the House of Lords rejected his bill, against conventions on financial issues.
Gladstone as a child in 1887 with his famous grandfather. Gladstone was born on 14 July 1885. [3] His father, William Henry Gladstone (1840–1891), was the eldest son of the Liberal Prime Minister William Ewart Gladstone and his wife Catherine, and his mother was the Hon. Gertrude Gladstone, daughter of Charles Stuart, 12th Lord Blantyre.
In the former year the probate and legacy duties brought in about one million pounds; the other direct taxes; even including the house duty, did not raise the total to £3,000,000. In 1908 the direct taxation of property and income supplied £51,500,000, or one-third of the total receipts as against less than one-twentieth in 1840.
Gladstonian liberalism is a political doctrine named after the British Victorian Prime Minister and Liberal Party leader William Ewart Gladstone.Gladstonian liberalism consisted of limited government expenditure and low taxation whilst making sure government had balanced budgets and the classical liberal stress on self-help and freedom of choice.
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William Ewart Gladstone was the Liberal prime minister of the United Kingdom of Great Britain and Ireland on four separate occasions between 1868 and 1894. He was noted for his moralistic leadership and his emphasis on world peace, economical budgets, political reform and efforts to resolve the Irish question.