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Look up retrenchment in Wiktionary, the free dictionary.
Retrenchment (French : retrenchment, an old form of retranchement, from retrancher, to cut down, cut short) is an act of cutting down or reduction, particularly of public expenditure. [1]
The word is familiar in its most general sense from the motto for the Gladstonian Liberal party in British politics, "Peace, Retrenchment and Reform." [1]
The 1906 Liberal landslide manifesto was launched with this slogan:
Expenditure calls for taxes, and taxes are the plaything of the tariff reformer. Militarism, extravagance, protection are weeds which grow in the same field, and if you want to clear the field for honest cultivation you must root them all out. For my own part, I do not believe that we should have been confronted by the spectre of protection if it had not been for the South African war. ... Depend upon it that in fighting for our open ports and for the cheap food and material upon which the welfare of the people and the prosperity of our commerce depend we are fighting against those powers, privileges, injustices, and monopolies which are unalterably opposed to the triumph of democratic principles. [2]
William Ewart Gladstone was a British statesman and Liberal Party politician. In a career lasting over 60 years, he was Prime Minister of the United Kingdom for 12 years, spread over four non-consecutive terms beginning in 1868 and ending in 1894. He also was Chancellor of the Exchequer four times, for over 12 years. Apart from 1845 to 1847, he was a Member of Parliament (MP) from 1832 to 1895 and represented a total of five constituencies.
A land value tax (LVT) is a levy on the value of land without regard to buildings, personal property and other improvements upon it. Some economists favor LVT, arguing it does not cause economic inefficiency, and helps reduce economic inequality. A land value tax is a progressive tax, in that the tax burden falls on land owners, because land ownership is correlated with wealth and income. The land value tax has been referred to as "the perfect tax" and the economic efficiency of a land value tax has been accepted since the eighteenth century. Economists since Adam Smith and David Ricardo have advocated this tax because it does not hurt economic activity, and encourages development without subsidies.
Sir Henry Campbell-Bannerman was a British statesman and Liberal Party politician who was Prime Minister of the United Kingdom from 1905 to 1908 and Leader of the Liberal Party from 1899 to 1908. He also was Secretary of State for War twice, in the cabinets of Gladstone and Rosebery. He was the first First Lord of the Treasury to be officially called the "Prime Minister", the term only coming into official usage five days after he took office. He remains the only person to date to hold the positions of Prime Minister and Father of the House at the same time, and the last Liberal leader to gain a UK parliamentary majority.
The welfare state of the United Kingdom began to evolve in the 1900s and early 1910s, and comprises expenditures by the government of the United Kingdom of Great Britain and Northern Ireland intended to improve health, education, employment and social security. The British system has been classified as a liberal welfare state system.
Robert Lowe, 1st Viscount Sherbrooke, GCB, PC, British statesman, was a pivotal conservative spokesman who helped shape British politics in the latter half of the 19th century. He held office under William Ewart Gladstone as Chancellor of the Exchequer between 1868 and 1873 and as Home Secretary between 1873 and 1874. Lowe is remembered for his work in education policy, his opposition to electoral reform and his contribution to modern UK company law. Gladstone appointed Lowe as Chancellor expecting him to hold down public spending. Public spending rose, and Gladstone pronounced Lowe "wretchedly deficient"; most historians agree. Lowe repeatedly underestimated the revenue, enabling him to resist demands for tax cuts and to reduce the national debt instead. He insisted that the tax system be fair to all classes. By his own main criterion of fairness — that the balance between direct and indirect taxation remain unchanged — he succeeded. Even in his time, however, this concept of fiscal incidence was obsolescent.
Jizya, or jizyah, is a type of taxation historically levied on non-Muslim subjects of a state governed by Islamic law. The Quran and hadiths mention jizya without specifying its rate or amount, and the application of jizya varied in the course of Islamic history. However, scholars largely agree that early Muslim rulers adapted some of the existing systems of taxation and modified them according to Islamic religious law.
Tax reform is the process of changing the way taxes are collected or managed by the government and is usually undertaken to improve tax administration or to provide economic or social benefits. Tax reform can include reducing the level of taxation of all people by the government, making the tax system more progressive or less progressive, or simplifying the tax system and making the system more understandable or more accountable.
Americans for Tax Reform (ATR) is a politically conservative U.S. advocacy group whose stated goal is "a system in which taxes are simpler, flatter, more visible, and lower than they are today." According to ATR, "The government's power to control one's life derives from its power to tax. We believe that power should be minimized." The organization is known for its "Taxpayer Protection Pledge", which asks candidates for federal and state office to commit themselves in writing to oppose all tax increases. The founder and president of ATR is Grover Norquist, a conservative tax activist.
Grover Glenn Norquist is an American political activist and tax reduction advocate who is founder and president of Americans for Tax Reform, an organization that opposes all tax increases. A Republican, he is the primary promoter of the Taxpayer Protection Pledge, a pledge signed by lawmakers who agree to oppose increases in marginal income tax rates for individuals and businesses, and net reductions or eliminations of deductions and credits without a matching reduced tax rate. Prior to the November 2012 election, the pledge was signed by 95% of all Republican members of Congress and all but one of the candidates running for the 2012 Republican presidential nomination.
John Morley, 1st Viscount Morley of Blackburn,, was a British Liberal statesman, writer and newspaper editor.
"Read my lips: no new taxes" is a phrase spoken by American presidential candidate George H. W. Bush at the 1988 Republican National Convention as he accepted the nomination on August 18. Written by speechwriter Peggy Noonan, the line was the most prominent sound bite from the speech. The pledge not to tax the American people further had been a consistent part of Bush's 1988 election platform, and its prominent inclusion in his speech cemented it in the public consciousness.
Barack Obama, President of the United States from 2009 to 2017, served as a U.S. senator from Illinois from 2005 to 2008 and as an Illinois state senator from 1997 to 2004. A member of the Democratic Party, he made his presidential run in 2008. He was elected President in 2008 and re-elected in 2012.
The 1872 Republican National Convention was held in Philadelphia, Pennsylvania, June 5–6, 1872. President Ulysses S. Grant was unanimously nominated for reelection by the convention's 752 delegates. Massachusetts Senator Henry Wilson replaced sitting Vice President Schuyler Colfax as the Republican vice presidential nominee.
The May Report, within the economic history of the United Kingdom, was a publication on 31 July 1931 by the Committee on National Expenditure. The May Committee was set up to suggest ways for the government to curb expenditure after a proposal by a Liberal MP. The committee was chaired by Sir George May. Its main conclusions were extensive public sector spending cuts, including a cut to the unemployment benefit, and increased taxation.
Fightback! was a 650-page economic policy package document proposed by John Hewson, federal leader of the Liberal Party of Australia and Leader of the Opposition from 1990 to 1994. It represented the start of their new economic liberal future policy direction, very different from the Keynesianism they previously practised. The package was part of their unsuccessful policy platform at the 1993 election.
Welfare in France includes all systems whose purpose is to protect people against the financial consequences of social risks.
The 2011 United Kingdom budget, officially called 2011 Budget – A strong and stable economy, growth and fairness, was delivered by George Osborne, the Chancellor of the Exchequer, to the House of Commons on 23 March 2011.
The 1928 South Indian railway strike was a general strike by the South Indian Railway Workers Union against plans of the South Indian Railway Company to lay off over 3,100 workers in order to reduce the expenditures of the company. The strike lasted from 29 June – 2 August 1928, and severely affected the transportation of people and goods across South India. The Madras government and the South Indian Railway Company responded with a crackdown. Most of the leaders of the strike were arrested and recognition to the union was withdrawn. The Government of Madras recorded it as the "most important event of the year".
Deficit reduction in the United States refers to taxation, spending, and economic policy debates and proposals designed to reduce the federal government budget deficit. Government agencies including the Government Accountability Office (GAO), Congressional Budget Office (CBO), the Office of Management and Budget (OMB), and the U.S. Treasury Department have reported that the federal government is facing a series of important long-run financing challenges, mainly driven by an aging population, rising healthcare costs per person, and rising interest payments on the national debt.
Peace, Retrenchment and Reform was a political slogan used in early-19th-century British politics by Whigs, Radicals and Liberals.
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