The Corn Laws led to massive increases in the price of bread, while the repeal of income tax meant that the war debt had to be recovered by taxing commodities forcing their prices even higher.
Over the reporting period, the Assembly adopted 16 laws, including legislation on gender equality, international financial agreements, income tax and profit tax, and consumer protection.
Certain measures have been taken in the monetary field, including the adoption of a single exchange rate for the Libyan dinar against foreign currencies, the abolition of monetary control and a reduction of income taxes.
On that basis, the revised estimates were recalculated, resulting in an amount of $54,231,200, consisting of $17,149,200 for administrative costs, $36,461,500 for investment costs and $620,500 for audit costs.
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