Political cartoons: Linley Sambourne:
Hicks Beach's 1902 budget

The budget
< Image: Punch (4 Jun 1902)

Reducing his figure

H-CKS-B-CH (Shampooer, to Mr Budget). 'I've taken a bit off you already, sir. I think I shall be able to get you down a lot more yet.'

The South African War, where costs soon soared to a pitch when they were virtually out of control and threatening a 60 million deficit, had earlier compelled the Chancellor of the Exchequer, Michael Edward Hicks Beach, to raise income tax from 8d in the pound to one shilling. In the 1902 budget, he added a further penny and reintroduced a shilling duty on corn.

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