In the 1994 American mid-term elections, the Republicans gained control over both Houses of Congress, putting them on course for a collision with US President Bill Clinton, a Democrat. Clinton was willing to let them have their way on a variety of issues, such as tougher sentencing laws.
But he felt their demand for large spending cuts would hit the economic recovery and was also concerned about the impact on health and pension entitlements.
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Inheritance tax home loan scheme beats HMRC but lawyers warn of the risksSchemes widely sold to the middle classes in the early 2000s to avoid inheritance tax are now finding their way to the courts as the tax office disputes their legality
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How high earners could boost their pension by thousands and cut childcare costsSalary sacrifice could boost your pension by thousands, while also helping you save on childcare costs. We delve into the numbers.
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31 August 1957: the Federation of Malaya declares independence from the UKFeatures On this day in 1957, after ten years of preparation, the Federation of Malaya became an independent nation.
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13 April 1960: the first satellite navigation system is launchedFeatures On this day in 1960, Nasa sent the Transit 1B satellite into orbit to provide positioning for the US Navy’s fleet of Polaris ballistic missile submarines.
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9 April 1838: National Gallery opens in Trafalgar SquareFeatures On this day in 1838, William Wilkins’ new National Gallery building in Trafalgar Square opened to the public.
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3 March 1962: British Antarctic Territory is createdFeatures On this day in 1962, Britain formed the British Antarctic Territory administered from the Falkland Islands.
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10 March 2000: the dotcom bubble peaks
Features Tech mania fanned by the dawning of the internet age inflated the dotcom bubble to maximum extent, on this day in 2000.
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9 March 1776: Adam Smith publishes 'The Wealth of Nations'
Features On this day in 1776, Adam Smith, the “father of modern economics”, published his hugely influential book The Wealth of Nations.
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8 March 1817: the New York Stock Exchange is formedFeatures On this day in 1817, a group of brokers moved out of a New York coffee house to form what would become the biggest stock exchange in the world.
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7 March 1969: Queen Elizabeth II officially opens the Victoria Line
Features On this day in 1969, Queen Elizabeth II took only her second trip on the tube to officially open the underground’s newest line – the Victoria Line.
