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Bradbury (E5)<br />UK Treasury note of ?1 or 10 shillings issued in 1914 to 1928 after the withdrawal of gold coins. These were named after John Bradbury, Permanent Secretary to the Treasury, and were also known as Treasury notes or UK currency notes. The Bank of England's dislike of small denomination notes necessitated issue by the Treasury. The smallest Bank of England note until 1928 was a ?5 note; in that year, ?1 and 10 shilling notes were mcluded in the Bank of England issue.<br /><em>See also:</em> banknote
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horizontal equity (D6)<br />The identical treatment of individuals or groups with the same amount of a relevant characteristic, e.g. income. Following this principle, families of the same size and income pay the same amount in direct taxes.<br /><em>See also:</em> vertical equity horizontal integration (Ll)<br />The merger of firms in the same industry, usually to reduce competition and to obtain ECONOMIES OF SCALE. Mergers of this kind are viewed with great suspicion in COMPETITION POUCY as they are expected to increase AGGREGATE CONCENTRATION.<br /><em>See also:</em> vertical integration
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