Posts Tagged ‘Treasury’

First Austenasian coins released to mark 10th anniversary

3 September 2018 4 comments

For the first time in Austenasia’s history, a set of coins has been minted by the Treasury.

One hundred zinc-alloy coins, each 3.8 cm in diameter, have been produced in celebration of the upcoming tenth anniversary of Austenasian independence, which will be celebrated on Saturday 15th September.

The coins each have a face value of £3, and are legal tender within Austenasia, but are intended to be of a commemorative nature.

One side of the coin has a portrait of Jonathan I, whereas the other has the inscription “Ten years since the Declaration of Independence”. Both sides are circled by an inscription of the name and Latin title of the Monarch, together with the civic (2018) and ecclesiastical (7527) year.

Many of the coins will be gifted to Austenasian dignitaries and friendly foreign heads of state.

Members of the public are able to buy the coin while stocks last via this link, for its face value plus a set postage and packaging charge.

Imperial Residence hot water system improved

A now empty cupboard in the Imperial Kitchen which previously housed a hot water tank.

Work on the hot water system in the Imperial Residence has been ongoing over the past week.

The taps in the Imperial Residence stopped producing hot water last Saturday. Initially a broken valve was suspected, but further investigation revealed that the boiler was broken.

The old boiler in the Imperial Kitchen has been removed and a new one installed in the loft of the house. Several central heating and hot water pipes have also been replaced or repaired, with wall panelling having been taken down around the building to gain access to them.

With the boiler now in the loft, a new chimney has been installed in the roof of the Imperial Residence to provide a flue for the new boiler.

The upgraded central heating and hot water systems of the Imperial Residence are now both far more efficient in terms of expense and far quicker in heating. The Treasury contributed to the cost of the repairs.

Tax system reformed

An Act of Parliament passed this morning has abolished the collection of taxes by the Treasury in peacetime.

The Tax Reform Act 2013 states that from now on, the Treasury can only collect taxes if authorised by Parliament or an Imperial Decree during a state of emergency or war. Town Councils may impose taxes upon their Towns to fund themselves, but these must be “of a fair and proportionate nature”.

The Austenasian tax system was initiated alongside the founding of the Empire on 20 September 2008. Subjects had to pay £1 per month, increased to £2 per month on 6 December 2008, to go towards the upkeep of the Empire. The following month, an extra tax of 20p for each fossil-fuel-powered vehicle owned per month was introduced for environmental purposes.

However, with the annexation of South Kilttown (now known as Zephyria) in April 2009, the collection of taxes was restricted to Wrythe’s population. A similar caveat was made with the annexation of Thanasia in May 2013, and taxes were not even mentioned upon the annexation of Palasia in July 2013. For all practical purposes, the three subjects of Wrythe have borne the burden of the financial upkeep of the Empire since its founding, a state of affairs which has now been put to an end.

Instead of the Treasury funding Government Ministries by distributing annual grants from the money it collects through taxes, Government Ministries shall from now on be expected to find ways of funding their own projects. Should extra money be required, they may apply for a grant from the Treasury, which will henceforth gain money primarily through donations and fund-raising.