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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%