Rezunova-POSOBIE-EBO_A4

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JOB SECURITY

Job security is the probability that an individual will keep his or her job; a job with a high level of job security is such that a person with the job would have a small chance of becoming unemployed.

Job security is dependent on economy, prevailing business conditions, and the individual's personal skills. It has been found that people have more job security in times of economic expansion and less in times of a recession. Also, some laws bolster job security by making it illegal to fire employees for certain reasons. Unemployment rate is a good indicator of job security and the state of the economy and is tracked by economists, government officials, and banks.

Typically, government jobs and jobs in education, healthcare and law enforcement are considered very secure while private sector jobs are generally believed to offer lower job security and it usually varies by industry, location, occupation and other factors.

Personal factors such as education, work experience, job functional area, work industry, work location, etc., play an important role in determining the need for an individual's services, and impacts their personal job security. Since job security depends on having the necessary skills and experience that are in demand by employers, which in turn depend on the prevailing economic condition and business environment, individuals whose services are in demand by employers will tend to enjoy higher job security.

To some extent, job security also varies by employment laws of each country. A worker in Continental Europe, if asked about his job security, would reply by naming the type of statutory employment contract he has, ranging from temporary (no job security) to indefinite (virtually equivalent to 'tenure' in US universities but across the whole economy).

TASKS

1. Выпишите в свой словарик с транскрипцией и переведите следующие слова и словосочетания. Найдите и подчеркните их в тексте. Отработайте чтение этих слов.

Continental Europe, economic expansion, employer, to fire employees, government officials, in turn, indefinite, individual's personal skills, law enforcement, statutory employment contract, temporary, tenure, times of a recession, to be dependent on, to some extent, unemployed, unemployment rate, work experience.

2. Прочитайте и переведите следующие предложения, обращая внимание на числительные.

1.It takes two days, two bureaucratic procedures, and $280 to open a business in Canada while an entrepreneur in Bolivia must pay $2,696 in fees, wait 82 business days, and go through 20 procedures to do the same.

2.The Tax Year in the UK, which applies to income tax and other personal taxes, runs from 6 April in one year to 5 April the next (for income tax purposes).

3.Hence the 2008-09 tax year runs from 6 April 2008 to 5 April 2009.

4.The odd dates are due to events in the mid-18th century.

5.When the Gregorian calendar was adopted in the UK in September 1752 in place of the Julian calendar, the two were out of step by 11 days.

6.However, it was felt unacceptable for the tax authorities to lose out on 11 days' tax revenues, so the start of the tax year was moved, firstly to 5 April and then, in 1800, to 6 April.

7.Financial Year 2008 runs from 1 April 2008 to 31 March 2009.

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3. Распределите данные слова по группам, выявите наиболее употребительные словообразовательные суффиксы, характерные для каждой части речи. Дайте перевод слов.

Probability, security, dependent, condition, personal, economic, expansion, recession, illegal, indicator, economist, government, typically, education, enforcement, generally, usually, location, occupation, functional, important, necessary, employer, environment, higher, worker, employment, virtually.

4. Выпишите из словаря с переводом и транскрипцией однокоренные слова к слову employ.

5. Найдите в тексте все неличные формы глагола (инфинитив, герундий, причастие I / причастие II). Переведите предложения с ними.

6. Определите и укажите время и залог выделенных сказуемых, переведите их, учитывая временную отнесенность.

7. Поставьте к тексту 5 вопросов (общий, специальный, вопрос к подлежащему, альтернативный и разделительный):

8. Переведите текст, пользуясь словарем. Отработайте чтение текста.

Обратите внимание на произношение и значение следующих слов:

9. Передайте содержание текста на русском языке.

*10. Подготовьте реферирование текста.

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TEXT 15

NATIONAL SECURITY

National security is the requirement to maintain the survival of the state through the use of economic power, diplomacy, power projection and political power. The concept developed mostly in the United States after World War II. Initially focusing on military might, it now encompasses a broad range of facets, all of which impinge on the non military or economic security of the nation and the values espoused by the national society. Accordingly, in order to possess national security, a nation needs to possess economic security, security, environmental security, etc. Security threats involve not only conventional foes such as other nation-states but also non-state actors such as violent nonstate actors, narcotic cartels, multinational corporations and non-governmental organisations; some authorities include natural disasters and events causing severe environmental damage in this category.

Measures taken to ensure national security include:

using diplomacy to rally allies and isolate threats

marshalling economic power to facilitate or compel cooperation

maintaining effective armed forces

implementing civil defense and emergency preparedness measures (including anti-terrorism legislation)

ensuring the resilience and redundancy of critical infrastructure

 using intelligence services to detect and defeat or avoid threats and espionage, and to protect classified information

 using counterintelligence services or secret police to protect the nation from internal threats.

TASKS

1. Выпишите в свой словарик с транскрипцией и переведите следующие слова и словосочетания. Найдите и подчеркните их в тексте. Отработайте чтение этих слов.

Authorities, conventional foe, cartel, diplomacy, espionage, requirement, emergency preparedness measures, intelligence services, counterintelligence services, economic power, power projection, political power, initially, military might, in order to, natural disasters, severe environmental damage, to compel cooperation, to ensure resilience and redundancy, to encompass, to espouse, to facilitate cooperation, to impinge, to implement civil defense, to marshal economic power, to rally allies.

2. Прочитайте и переведите следующие предложения, обращая внимание на числительные.

1.In 1974 the top-rate of income tax increased to its highest rate since the war, 83%.

2.This applied to incomes over £20,000, and combined with a 15% surcharge on 'un-earned' income (investments and dividends) could add to a 98% marginal rate of personal income tax.

3.In 1974, just 750,000 people were eligible to pay the top-rate of income tax.

4.Margaret Thatcher, who favoured indirect taxation reduced personal income tax rates during the 1980s.

5.In the first budget after her election victory in 1979, the top-rate was reduced from 83% to 60% and the basic rate from 33% to 30%.

6.The basic rate was also cut for three successive budgets - to 29% in the 1986 budget, 27% in 1987 and to 25% in 1988.

7.The top-rate of income tax was cut to 40% in the 1988 budget.

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3. Распределите данные слова по группам, выявите наиболее употребительные словообразовательные суффиксы, характерные для каждой части речи. Дайте перевод слов.

Requirement, economic, projection, political, mostly, initially, military, accordingly, national, conventional, actor, organization, natural, diplomacy, isolate, facilitate, effective, preparedness, legislation, redundancy, critical, information, internal.

4. Переведите следующие словосочетания на русский язык.

Abuse of power, assume power, bargaining power, be in power, calculated power, come to power, commercial power, concentration of economic power, constitutional power, discretionary power, earning power, exercise one's power, financial power, foreign power, hold power, inherent powers, labour power, large powers, power to sign, reserved powers, sole voting power, supreme power, take the power, the Great Powers, voting power.

5. Найдите в тексте все неличные формы глагола (инфинитив, герундий, причастие I / причастие II). Переведите предложения с ними.

6. Определите и укажите время и залог выделенных сказуемых, переведите их, учитывая временную отнесенность.

7. Поставьте к тексту 5 вопросов (общий, специальный, вопрос к подлежащему, альтернативный и разделительный):

8. Переведите текст, пользуясь словарем. Отработайте чтение текста.

Обратите внимание на произношение и значение следующих слов:

9. Передайте содержание текста на русском языке.

*10. Подготовьте реферирование текста.

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PART B

1.Выпишите из текста все незнакомые слова в словарики.

2.Переведите текст на русский язык со словарем.

3.Поставьте к тексту 5 вопросов.

4.Подготовьте аннотацию данного текста на английском языке.

BEYOND DEFENSE, GULF COUNTRIES MUST MIND ITS ECONOMIC SECURITY (1)

Economic security is quickly becoming one of the main issues in an increasingly interactive world. Like the evolution of technology over time, the concept of security has changed dramatically over the last few decades. Historically, security was highly related to defence policy - the development and use of military force - and the idea that states need to protect their national borders from invasion.

The importance of economic security is that it ensures the security of not only borders, but also the safety and well being of citizens, economic viability and way of life. In the case of the Gulf countries, their economic security challenges are especially related to their dependence on oil and lack of food security. It is important for Gulf states to define their position in the international system.

There are several challenges that appear to shape economic security issues. First, there are less interstate military conflicts and more attacks perpetrated by small groups of individuals of which some are nationals. Second, economic and technological globalisation has increased interdependence among countries to the extent that actions taken in one country may spill over internationally. Lastly, the emergence of rising economic powers, the growth of the world's population, the depletion of clean water and arable land, and pressure on mineral resources, resulted in increased risks and vulnerabilities in the global commons.

Economic security also requires an economic system that is environmentally sustainable. We run into a problem when we look at developing nations who use up their natural resources to sustain current populations, at the expense of their future. Ensuring economic security and creating more resilient societies in developed and developing nations requires several shifts to occur or strengthen.

Countries need to shift from a fragmented approach to security towards an integrated approach. Security is more than just physical survival (food, shelter and satisfaction of other basic needs). There should be a move from that basic idea of security to one that acknowledges the ability to provide an increase in the standard of living of a population through education, employment, justice, freedom of expression and political participation, among other factors.

The national approach to security also needs to shift towards regional and international approaches.

BEYOND DEFENSE, GULF COUNTRIES MUST MIND ITS ECONOMIC SECURITY (2)

The globalisation of markets and free flows of capital, information and to some extent labour has brought tremendous opportunities but also created new forms of threats to economic security, including systemic risk in international financial markets, cross-border money laundering, piracy of intellectual property rights and illegal migration. Economic security is contingent on the ability to strike a balance between economic openness and economic sovereignty.

The global financial crisis was an example of how a problem emerged in a single country and ended up affecting the entire global economy. The crisis showed that actions of a few individuals can have detrimental global effects: Russia's decision to ban exports of wheat last summer led to a price hike in international markets and created economic security concerns around the world; the absence of social safety nets in China stimulates excessive saving and generates negative effects on the US economy.

Short-sighted views of security have to adopt a more pro-active approach. Fragile and poor states are not only a danger for themselves but also for their neighbours and often for the whole world as seen with the Somali pirates. Taking initiatives to solve conflicts but also promoting political stability and economic development are key ingredients of any pro-active strategy to economic security.

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There are several things the Gulf countries can do to promote their economic security. At the international level, they should enhance their trade and cooperation with countries from within and outside the region and work as constructive partners in international organisations such as the WTO and the UN.

Gulf nations should focus on strengthening education and building human capital. This results in higher productivity and more innovation for sustainable growth and development; ensuring social security through solidarity systems that reinforce identity and create a sense of belonging to a community; and diversifying national product and foreign trade and investment.

This can be done by strengthening regional integration such as Qatar's role as mediator in Lebanon and Sudan or the Afro-Arab cooperation which focuses on subjects such as peace and security, investment and trade, agriculture and food security, and cultural cooperation.

Globalisation and resource scarcity mean that countries can no longer be indifferent to each other. This calls for a broader view of economic security at a multilateral level.

JOB SECURITY IN THE UNITED STATES

Job security in the United States depends more upon the economy and business conditions than in most countries because of the capitalist system and the minimal government intervention in businesses. Job security in the United States can vary a lot since the supply and demand for jobs depends on the economy. If the economy is good, companies experience more demand for their products and create more jobs, which increases job security. However, in periods of economic slowdown or recession, companies try to cut costs and layoff workers which decreases job security. Importantly, employment in the United States is at will, meaning that apart from certain limited exceptions, an employee's job security is generally at the mercy of the employer.

In the aftermath of the dot com boom, computer related jobs experienced low job security whereas the situation was just the opposite prior to that. Since 2005 automotive sector jobs have experienced very low job security, and since 2007, real estate and mortgage related jobs have seen a big decrease in job security.

A growing number of American men have dealt with their unemployment and feelings of job insecurity by not returning to work. In 1960 5% of men ages 30–55 were unemployed whereas roughly 13% were unemployed in 2006. The New York Times attributes a large portion of this to blue collar and professional men refusing to work in jobs that they are overqualified for or do not provide adequate benefits in contrast to their previous jobs.

According to data from the 2010 National Health Interview Survey, 32% of all of current workers experienced job insecurity, defined as being worried about becoming unemployed. Job insecurity was higher for men than women, workers aged 30-64 compared with other age groups, divorced or separated workers compared with other relationship statuses, and workers having less than a high school diploma compared to workers having more education. Workers in the construction industry had the highest prevalence rate of job insecurity (55%).

Immigration and overseas outsourcing may decrease job security for people in certain occupations. For example, telephone call center positions in the information technology sector are increasingly being outsourced to India where the same roles can be filled at a lower cost.

JOB SECURITY IN EUROPE

The main difference vis-à-vis the United States is the system of indefinite contracts. In most European countries many employees have indefinite contracts which, whilst not guaranteeing a job for life, make it very difficult for the employer to terminate a contract. Employees who have legally acquired these rights, for example because they have been with a company for two years continuously, can only be dismissed for disciplinary reasons (after a number of formal warnings and subject to independent appeal) or in the case of a company undergoing restructuring (subject to generous laws on redundancy payments and often with retraining paid for by the company). In Spain, for example, such employees are entitled to 45 days redundancy pay per year worked. The high cost of redundancy payments is in practice what gives employees job security.

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Whilst employees who have such legally-binding, indefinite contracts are in the enviable position of knowing that they (and their family) have complete financial security for the rest of their lives, it is important to realise that these obligations work both ways. In some countries such as Germany a company may prevent an employee (whose occupational training they have paid for) from leaving to take up a better post elsewhere until compensation is agreed. Even an employee of a company which is known to be about to fold may find himself compelled to stay with the company until the end even if he is offered work with a different firm.

Every company will have a mix of employees on different types of contract. Indefinite contracts can also exist for seasonal work. These so-called discontinuous contracts mean that a hotel, for example, may dismiss its staff in the autumn, but it must take the same people back on again the following spring.

The proportion of the workforce on indefinite contracts has fallen across Europe in response to increased competition and globalization. Companies may dismiss an employee just before he reaches the two-year mark and then re-hire him as a new employee. Many economists argue that greater labour market flexibility is necessary. Economics professors argue that the threat of unemployment is necessary to maintain incentives to high productivity. Jobs which are not backed by an indefinite contract are still poorly-regarded in many European societies, often disparagingly described as "precarious" or "McJobs", even when the company has good prospects.

GEOPOLITICS

Geopolitics is the study of the effects of geography (both human and physical) on international politics and international relations. Geopolitics is a method of foreign policy analysis which seeks to understand, explain, and predict international political behaviour primarily in terms of geographical variables. Typical geographical variables are the physical location, size, climate, topography, demography, natural resources, and technological advances of the state being evaluated. Traditionally, the term has applied primarily to the impact of geography on politics, but its usage has evolved over the past century to encompass wider connotations.

Geopolitics traditionally studies the links between political power and geographic space, and examines strategic prescriptions based on the relative importance of land power and sea power in world history. The geopolitical tradition had some consistent concerns with geopolitical correlations of power in world politics, the identification of international core areas, and the relationships between naval and terrestrial capabilities. Academically, the study of geopolitics analyses geography, history, and social science with reference to spatial politics and patterns at various scales. Also, the study of geopolitics includes the study of the ensemble of relations between the interests of international political actors, interests focused to an area, space, geographical element or ways, relations which create a geopolitical system. 4 Geopolitics is multidisciplinary in scope, and includes all aspects of the social sciences—with particular emphasis on political geography, international relations, the territorial aspects of political science and international law.

The term "Geopolitics" was coined at the beginning of the twentieth century by Rudolf Kjellén, a Swedish political scientist, who was inspired by the German geographer Friedrich Ratzel. Ratzel published Politische Geographie (political geography) in 1897; that book was later popularized in English by the Hungarian historian Emile Reich and the American diplomat Robert Strausz-Hupé (a faculty member of the University of Pennsylvania). Although Halford Mackinder had a pioneering role in the field, he never used the term geopolitics himself.

ECONOMIC LIBERALIZATION

Extending property rights protection to the poor is one of the most important poverty reduction strategies a nation can implement. Securing property rights to land, the largest asset for most societies, is vital to their economic freedom. The World Bank concludes that increasing land rights is ‘the key to reducing poverty’ citing that land rights greatly increase poor people’s wealth, in some cases doubling it. It is estimated that state recognition of the property of the poor would give them assets worth 40 times all the foreign aid since 1945. Although approaches varied, the World Bank said the key issues were security of tenure and ensuring land transactions were low cost. In China and India, noted reductions in poverty

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in recent decades have occurred mostly as a result of the abandonment of collective farming in China and the cutting of government red tape in India.

New enterprises and foreign investment can be driven away by the results of inefficient institutions, corruption, the weak rule of law and excessive bureaucratic burdens. It takes two days, two bureaucratic procedures, and $280 to open a business in Canada while an entrepreneur in Bolivia must pay $2,696 in fees, wait 82 business days, and go through 20 procedures to do the same. Such costly barriers favor big firms at the expense of small enterprises where most jobs are created. In India before economic reforms, businesses had to bribe government officials even for routine activities, which was in effect a tax on business.

However, ending government sponsorship of social programs is sometimes advocated as a free market principle with tragic consequences. For example, the World Bank presses poor nations to eliminate subsidies for fertilizer that many farmers cannot afford at market prices. The reconfiguration of public financing in former Soviet states during their transition to a market economy called for reduced spending on health and education, sharply increasing poverty.

DEFINITION OF NATIONAL SECURITY

There is no single universally accepted definition of national security. The variety of definitions provides an overview of the many usages of this concept. The concept still remains ambiguous, having originated from simpler definitions which initially emphasized the freedom from military threat and political coercion to later increase in sophistication and include other forms of non-military security as suited the circumstances of the time.

A typical dictionary definition, in this case from the Macmillan Dictionary, defines the term as "the protection or the safety of a country’s secrets and its citizens" emphasizing the overall security of a nation and a nation state.

The 1996 definition propagated by the National Defence College of India accretes the elements of national power: "National security is an appropriate and aggressive blend of political resilience and maturity, human resources, economic structure and capacity, technological competence, industrial base and availability of natural resources and finally the military might."

Harold Brown, U.S. Secretary of Defense from 1977 to 1981 in the Carter administration, enlarged the definition of national security by including elements such as economic and environmental security: "National security then is the ability to preserve the nation's physical integrity and territory; to maintain its economic relations with the rest of the world on reasonable terms; to preserve its nature, institution, and governance from disruption from outside; and to control its borders."

In Harvard University history professor Charles Maier's definition of 1990, national security is defined through the lens of national power: "National security... is best described as a capacity to control those domestic and foreign conditions that the public opinion of a given community believes necessary to enjoy its own self-determination or autonomy, prosperity and wellbeing."

According to Prabhakaran Paleri, author of National Security, Imperatives and Challenges, national security may be defined as: The measurable state of the capability of a nation to overcome the multidimensional threats to the apparent well-being of its people and its survival as a nation-state at any given time, by balancing all instruments of state policy through governance, that can be indexed by computation, empirically or otherwise, and is extendable to global security by variables external to it."

ELEMENTS OF NATIONAL SECURITY

As in the case of national power, the military aspect of security is an important, but not the sole, component of national security. To be truly secure, a nation needs other forms of security. Authorities differ in their choice of nation security elements. Besides the military aspect of security, the aspects of diplomacy or politics; society; environment; energy and natural resources; and economics are commonly listed. The elements of national security correlate closely to the concept of the elements of national power. Romm (1993) lists security from economic security, environmental security and energy security as the non-military elements of national security.

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Military security. This is traditionally, the earliest recognised form of national security. Military security implies the capability of a nation to defend itself, and/or deter military aggression. Alternatively, military security implies the capability of a nation to enforce its policy choices by use of military force. The term "military security" is considered synonymous with "security" in much of its usage. One of the definitions of security given in the Dictionary of Military and Associated Terms, may be considered a definition of "military security":

Political security. The political aspect of security has been offered by Barry Buzan, Ole Wæver, Jaap de Wilde as an important component of national security. Political security is about the stability of the social order. Closely allied to military security and societal security, other components proposed in a framework for national security in their book "Security: a new framework for analysis", it specifically addresses threats to sovereignty. System referent objects are defined, such as nation-states, nations, transnational groups of political importance including tribes, minorities, some religious organisations, systems of states such as the European Union and the United Nations, besides others. Diplomacy, negotiation and other interactions form the means of interaction between the objects.

Economic security. Historically, conquest of nations have made conquerors rich through plunder, access to new resources and enlarged trade through controlling of the conquered nations' economy. In today's complex system of international trade, characterised by multi-national agreements, mutual interdependence and availability of natural resources etc., the freedom to follow choice of policies to develop a nation's economy in the manner desired, forms the essence of economic security. Economic security today forms, arguably, as important a part of national security as military security. The protection of jobs also makes it possible for a country to be well secured economically. Third world countries are less secured due to lack of employment for its citizens.

TAXATION IN THE UNITED KINGDOM (1)

Taxation in the United Kingdom may involve payments to a minimum of two different levels of government: The central government (Her Majesty's Revenue and Customs) and local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, corporation tax and fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England and Wales, Council Tax and increasingly from fees and charges such as those from on-street parking. In the fiscal year 2007-08, total government revenue was 39.2 per cent of GDP, with net taxes and National Insurance contributions standing at 36.9 per cent of GDP.

Residence and domicile. UK source income is generally subject to UK taxation no matter the citizenship nor the place of residence of the individual nor the place of registration of the company.

For individuals this means the UK income tax liability of one who is neither resident nor ordinarily resident in the UK is limited to any tax deducted at source on UK income, together with tax on income from a trade or profession carried on through a permanent establishment in the UK and tax on rental income from UK real estate.

Individuals who are both resident and domiciled in the UK are additionally liable to taxation on their worldwide income and gains. For individuals resident but not domiciled in the UK (a "non-dom"), foreign income and gains have historically been taxed on the remittance basis, that is to say, only income and gains remitted to the UK are taxed (for such people the UK is sometimes called a tax haven). However from 6 April 2008, a non-dom wishing to retain the remittance basis is required to pay an annual tax of

£30,000.

Domicile here is a term with a technical meaning. Very roughly (and this is a considerable simplification) an individual is domiciled in the UK if it is his or her permanent home.

A company is resident in the UK if it is UK-incorporated or if its central management and control are in the UK (although in the former case a company could be resident in another jurisdiction in certain circumstances where a tax treaty applies).

Double taxation of income and gains may be avoided by an applicable double tax treaty - the UK has one of the largest networks of treaties of any country.

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TAXATION IN THE UNITED KINGDOM (2)

Capital gains tax. Capital gains are subject to tax at the 18% (for individuals) or at the applicable marginal rate of corporation tax (for companies).

The basic principle is the same for individuals and companies - the tax applies only on the disposal of a capital asset, and the amount of the gain is calculated as the difference between the disposal proceeds and the "base cost", being the original purchase price plus allowable related expenditure. However, from 6 April 2008, the rate and reliefs applicable to the chargeable gain differ between individuals and companies. Companies apply "indexation relief" to the base cost, increasing it in accordance with the Retail Prices Index so that (broadly speaking) the gain is calculated on a post-inflation basis (with different rules apply for gains accrued prior to March 1982). The gain is then subject to tax at the applicable marginal rate of corporation tax. Individuals are taxed at a flat rate of 18%, with no indexation relief (but subject to a limited relief for the first £1m of gains for "entrepreneurs").

The tax year. The Tax Year in the UK, which applies to income tax and other personal taxes, runs from 6 April in one year to 5 April the next (for income tax purposes). Hence the 2008-09 tax year runs from 6 April 2008 to 5 April 2009.

The odd dates are due to events in the mid-18th century. The English quarter days are traditionally used as the dates for collecting rents (on, for example, agricultural properties). The tax system was also based on a tax year ending on Lady Day (25 March). When the Gregorian calendar was adopted in the UK in September 1752 in place of the Julian calendar, the two were out of step by 11 days. However, it was felt unacceptable for the tax authorities to lose out on 11 days' tax revenues, so the start of the tax year was moved, firstly to 5 April and then, in 1800, to 6 April.

The tax year is sometimes also called the Fiscal Year. The Financial Year, used mainly for corporation tax purposes, runs from 1 April to 31 March. Financial Year 2008 runs from 1 April 2008 to 31 March 2009, as Financial Years are named according to the calendar year in which they start.

TAXATION IN THE UNITED KINGDOM (3)

History. The income tax was first implemented in Britain by William Pitt the Younger in his budget of December 1798 to pay for weapons and equipment in preparation for the Napoleonic Wars. Income tax was levied under five schedules—income not falling within those schedules was not taxed. Pitt's income tax was levied from 1799 to 1802, when it was abolished by Henry Addington during the Peace of Amiens. Addington had taken over as prime minister in 1801, after Pitt's resignation over Catholic Emancipation.

The income tax was reintroduced by Addington in 1803 when hostilities recommenced, but it was again abolished in 1816, one year after the Battle of Waterloo. The UK income tax was reintroduced by Sir Robert Peel in the Income Tax Act 1842. Peel, as a Conservative, had opposed income tax in the 1841 general election, but a growing budget deficit required a new source of funds. The new income tax, based on Addington's model, was imposed on incomes above £150.

UK income tax has changed over the years. Originally it taxed a person's income regardless of who was beneficially entitled to that income, but now a person only owes tax on income to which he or she is beneficially entitled. Most companies were taken out of the income tax net in 1965 when corporation tax was introduced. Also the Schedules under which tax is levied have changed. Schedule B was abolished in 1988, Schedule C in 1996 and Schedule E in 2003. For income tax purposes, the remaining schedules were superseded by the Income Tax Act 2005, which also repealed Schedule F completely. The Schedular system and Schedules A and D still remain in force for corporation tax. The highest rate peaked in the Second World War at 99.25% and remained at about 95% till the late 1970s.]

In 1974 the top-rate of income tax increased to its highest rate since the war, 83%. This applied to incomes over £20,000, and combined with a 15% surcharge on 'un-earned' income (investments and dividends) could add to a 98% marginal rate of personal income tax. In 1974, just 750,000 people were eligible to pay the top-rate of income tax. Margaret Thatcher, who favoured indirect taxation reduced personal income tax rates during the 1980s. In the first budget after her election victory in 1979, the top-rate was reduced from 83% to 60% and the basic rate from 33% to 30%. The basic rate was also cut for three successive budgets - to 29% in the 1986 budget, 27% in 1987 and to 25% in 1988. The top-rate of income tax was cut to 40% in the 1988 budget.

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