England Boosts Tax Rates, Daily Racing Form, 1938-04-28

ENGLAND BOOSTS TAX RATES LONDON, England, April 27. The British government announced a boost in income tax rates from twenty-five per cent to twenty-seven and one-half percent to help pay the costs of the staggering rearmament program. The blow of the income tax boost was softened somewhat by the announcement of a special exemption by which 2,000,000 small taxpayers will escape the increase.