Duties on Clocks and Watches Act 1797
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The Duties on Clocks and Watches Act 1797 (38 Geo. III, c. 108) was an Act passed by the Parliament of Great Britain, instituting a tax on clocks and watches. The tax nearly ruined the manufactueres of clocks and watches as demand decreased considerably so that in less than a year the production of these had been reduced by a half, with thousands of people made unemployed. The tax was thus repealed within a year, in April 1798.[1]
[edit] Notes
- ^ Stephen Dowell, A History of Taxation and Taxes in England from the Earliest Times to the Year 1885. Volume III. Direct Taxes and Stamp Duties (London: Longmans, Green & Co., 1888), pp. 274-5.
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