Table 3 U.K. Tax Parameters. For use in equation (4). Pounds are not inflation adjusted
From: Fiscal policies and the prices of labor: a comparison of the U.K. and U.S.
NICs parameters | y | τ i | UB | τ c | Overall wedge q (weekly employment) | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Quarter | PT | ST | Employer rate τ f | Employer rate τ e | Employer cost | PIT basic | CTC BRR | Unempl. Benefit | Consumption tax rate | Off credits | On credits |
2007-Q1 | £97 | £97 | 12.8% | 11.0% | £445 | 22.0% | 37.0% | 18.8% | |||
2007-Q2 | £100 | £100 | 12.8% | 11.0% | £446 | 22.0% | 37.0% | £59.15 | 18.8% | 55.2% | 79.5% |
2007-Q3 | £100 | £100 | 12.8% | 11.0% | £449 | 22.0% | 37.0% | £59.15 | 18.8% | 55.2% | 79.5% |
2007-Q4 | £100 | £100 | 12.8% | 11.0% | £451 | 22.0% | 37.0% | £59.15 | 18.8% | 55.1% | 79.4% |
2008-Q1 | £100 | £100 | 12.8% | 11.0% | £464 | 22.0% | 37.0% | £59.15 | 18.8% | 55.0% | 79.4% |
2008-Q2 | £105 | £105 | 12.8% | 11.0% | £460 | 20.0% | 39.0% | £60.50 | 18.8% | 53.7% | 79.4% |
2008-Q3 | £105 | £105 | 12.8% | 11.0% | £468 | 20.0% | 39.0% | £60.50 | 18.8% | 53.6% | 79.3% |
2008-Q4 | £105 | £105 | 12.8% | 11.0% | £474 | 20.0% | 39.0% | £60.50 | 18.2% | 53.4% | 79.2% |
2009-Q1 | £105 | £105 | 12.8% | 11.0% | £472 | 20.0% | 39.0% | £60.50 | 17.0% | 52.9% | 79.0% |
2009-Q2 | £110 | £110 | 12.8% | 11.0% | £488 | 20.0% | 39.0% | £64.30 | 17.0% | 53.1% | 79.1% |
2009-Q3 | £110 | £110 | 12.8% | 11.0% | £482 | 20.0% | 39.0% | £64.30 | 17.0% | 53.2% | 79.1% |
2009-Q4 | £110 | £110 | 12.8% | 11.0% | £493 | 20.0% | 39.0% | £64.30 | 17.0% | 53.1% | 79.1% |
2010-Q1 | £110 | £110 | 12.8% | 11.0% | £491 | 20.0% | 39.0% | £64.30 | 18.8% | 53.8% | 79.4% |
2010-Q2 | £110 | £110 | 12.8% | 11.0% | £494 | 20.0% | 39.0% | £65.45 | 18.8% | 53.9% | 79.5% |
2010-Q3 | £110 | £110 | 12.8% | 11.0% | £492 | 20.0% | 39.0% | £65.45 | 18.8% | 53.9% | 79.5% |
2010-Q4 | £110 | £110 | 12.8% | 11.0% | £495 | 20.0% | 39.0% | £65.45 | 18.8% | 53.9% | 79.5% |
2011-Q1 | £110 | £110 | 12.8% | 11.0% | £497 | 20.0% | 39.0% | £65.45 | 20.5% | 54.5% | 79.8% |
2011-Q2 | £139 | £136 | 13.8% | 12.0% | £493 | 20.0% | 41.0% | £67.50 | 20.5% | 54.8% | 81.2% |
2011-Q3 | £139 | £136 | 13.8% | 12.0% | £493 | 20.0% | 41.0% | £67.50 | 20.5% | 54.8% | 81.2% |
2011-Q4 | £139 | £136 | 13.8% | 12.0% | £502 | 20.0% | 41.0% | £67.50 | 20.5% | 54.7% | 81.2% |
2012-Q1 | £139 | £136 | 13.8% | 12.0% | £502 | 20.0% | 41.0% | £67.50 | 20.5% | 54.7% | 81.2% |
2012-Q2 | £146 | £144 | 13.8% | 12.0% | £506 | 20.0% | 41.0% | £71.00 | 20.5% | 54.9% | 81.2% |
2012-Q3 | £146 | £144 | 13.8% | 12.0% | £510 | 20.0% | 41.0% | £71.00 | 20.5% | 54.9% | 81.2% |
2012-Q4 | £146 | £144 | 13.8% | 12.0% | £515 | 20.0% | 41.0% | £71.00 | 20.5% | 54.8% | 81.2% |
2013-Q1 | £146 | £144 | 13.8% | 12.0% | £515 | 20.0% | 41.0% | £71.00 | 20.5% | 54.8% | 81.2% |
2013-Q2 | £149 | £148 | 13.8% | 12.0% | £524 | 20.0% | 41.0% | £71.70 | 20.5% | 54.7% | 81.2% |
2013-Q3 | £149 | £148 | 13.8% | 12.0% | £505 | 20.0% | 41.0% | £71.70 | 20.5% | 54.9% | 81.2% |
2013-Q4 | £149 | £148 | 13.8% | 12.0% | £509 | 20.0% | 41.0% | £71.70 | 20.5% | 54.9% | 81.2% |