London and the Kingdom - Volume 3: A History Derived Mainly from the Archives at Guildhall in the Custody of the Corporation of the City of London.Sharpe, Reginald R. (Reginald Robinson)
History
London and the Kingdom - Volume 3: A History Derived Mainly from the Archives at Guildhall in the Custody of the Corporation of the City of London.
Sharpe, Reginald R. (Reginald Robinson)
London (England) -- History
One of the many schemes which he proposed for filling the exchequer
was a tax on retail shops. As soon as the proposal got wind the City
was at once up in arms, and a committee was appointed (14 May, 1785)
to confer with Pitt on the matter. Upon the citizens objecting that
they would have to bear nearly the whole burden of the tax, they were
told they could recoup themselves by raising the price of their goods
to the consumer.[524] Disappointed in this quarter, they resolved to
lay their case before Parliament; and accordingly a petition was drawn
up, which set forth that the citizens of London had always been ready
and willing to bear their fair share of the necessary burdens of the
state, but that the tax now proposed was partial, unjust and oppressive
to trade; that the inhabitants and traders of the city were already
overburdened with taxation; that London and Middlesex paid 80 parts out
of 513, or more than one-sixth of the whole Land Tax annually raised
in the kingdom; and that, finally, it was a grave mistake to suppose
that a tax on trade eventually fell on the consumers, for the price of
every commodity was regulated by supply and demand.[525] This petition
was laid before the House on the 19th May, but with little effect, and
on the 30th the Bill passed the Commons[526] in spite of the strong
protest against it made by the city members, who received the thanks
of the Common Council for their spirited and manly opposition to a tax
"universally condemned for its partiality and injustice."[527]
[Sidenote: Efforts to get it repealed, 1785-1789.]
Public-domain text, read in full here on John Shaqi.
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