Author: SNOWDEN Philip (Chancellor of the Exchequer)
Title: Revised Financial Statement (1931-32): Tables Illustrating the Income Tax Payable Under the Proposals of the Chancellor of the Exchequer As Compared with the Income Tax Payable in the Years 1913-14, 1929-30 and 1930-31 (Cmd. 3954.)
Description: London, HMSO 1931 17pp, tables throughout 25x16, stapled pamphlet Edges browned and slightly chipped, fair for very fragile item. A dry document, but one that marks a critical moment in the political and economic crisis that swept the UK in 1931. After two years of struggling with the Depression the Labour Government collapsed in 1929 as the Cabinet split over proposed cuts to unemployment spending. Prime Minister Ramsey MacDonald then formed a National Government, made up mostly of Conservatives and National Liberals, and a handful of Labour MPs, including Snowden. The election called for October led to a gigantic majority for the National Government; MacDonald's actions split the Labour Party, while the Liberals split irrevocably into three separate factions, fundamentally remaking British politics.The purpose of this document appears to have been to show the substantial increases in tax rates in the previous two years. For a contemporary reader, it is the tax rates from 1913 that shock - the top rate was only 8.25%.

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