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Working Tax Credit
Working Tax Credit (WTC) was a state benefit in the United Kingdom made to people who worked and received a low income. It was introduced in April 2003 and was a means-tested benefit. Despite the name, the payment was not a tax credit linked to a person's tax bill, but a payment used to top-up low wages. The amount of WTC received could exceed the amount of tax paid. Unlike most other benefits, WTC was paid by HM Revenue and Customs (HMRC). WTC could be claimed by working individuals, childless couples and working families with dependent children. In addition, some other people were also entitled to Child Tax Credit (CTC) if they were responsible for any children. WTC and CTC were assessed jointly and families remained eligible for CTC even if no adult was working or they had too much income to receive WTC. In 2010, the coalition government announced that the Working Tax Credit would, by 2017, be integrated into and replaced by Universal Credit. However, implementation of t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Welfare Spending
Welfare spending is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. pensions), as opposed to ''social assistance'' programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury. More broadly, welfare may also encompass efforts to provide a basic level of well-being through subsidized ''social services'' such as healthcare, education, infrastructure, vocational training, and public housing.''The New Fontana Diction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office For National Statistics
The Office for National Statistics (ONS; ) is the executive office of the UK Statistics Authority, a non-ministerial department which reports directly to the Parliament of the United Kingdom, UK Parliament. Overview The ONS is responsible for the collection and publication of statistics related to the economy, population and society of the United Kingdom; responsibility for some areas of statistics in Scotland, Northern Ireland and Wales is devolved to the Devolution in the United Kingdom, devolved governments for those areas. The ONS functions as the executive office of the National Statistician, who is also the UK Statistics Authority's Chief Executive and principal statistical adviser to the UK's National Statistics Institute, and the 'Head Office' of the Government Statistical Service (GSS). Its main office is in Newport near the United Kingdom Intellectual Property Office and Tredegar House, but another significant office is in Titchfield in Hampshire, and a small office ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Welfare Spending
Welfare spending is a type of government support intended to ensure that members of a society can meet basic human needs such as food and shelter. Social security may either be synonymous with welfare, or refer specifically to social insurance programs which provide support only to those who have previously contributed (e.g. pensions), as opposed to ''social assistance'' programs which provide support on the basis of need alone (e.g. most disability benefits). The International Labour Organization defines social security as covering support for those in old age, support for the maintenance of children, medical treatment, parental and sick leave, unemployment and disability benefits, and support for sufferers of occupational injury. More broadly, welfare may also encompass efforts to provide a basic level of well-being through subsidized ''social services'' such as healthcare, education, infrastructure, vocational training, and public housing.''The New Fontana Diction ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New Jobs Tax Credit
The New Jobs tax credit was a tax credit policy created as part of the 1977 stimulus package enacted by the Carter administration and was in effect through 1978. The tax credit acted as a form of wage subsidy by granting employers a tax credit for making new hires. In 1979, the credit was not renewed and it was ultimately perceived as a failure due to poor execution and lack of exposure. As written in the Tax Reduction and Simplification Act of 1977, the tax credit offered fifty percent of the first $4,200 in wages per employee for increases in employment of at least two percent over the previous year. In early 2010, there was renewed interest in duplicating the original 1977 tax credit in legislation proposed by Barack Obama. The proposed tax credit was renamed and included in the Hiring Incentives to Restore Employment Act The Hiring Incentives to Restore Employment (HIRE) Act of 2010 (, ) is a law in the 111th United States Congress to provide payroll tax breaks and incen ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Earned Income Tax Credit
The United States federal earned income tax credit or earned income credit (EITC or EIC) is a refundable tax credit for low- to moderate-income working individuals and couples, particularly those with children. The amount of EITC benefit depends on a recipient's income and number of children. Low-income adults with no children are eligible. For a person or couple to claim one or more persons as their qualifying child, requirements such as relationship, age, and shared residency must be met.Tax Year 2020 1040 and 1040-SR Instructions, including the instructions for Schedules 1 through 3 Rules for EIC begin on page 40 for 2020 Tax Year. The earned income tax credit has been part of political debates in the United States over ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
UK Labour Law
United Kingdom labour law regulates the relations between workers, employers and trade unions. People at work in the UK have a minimum set of employment rights, from Acts of Parliament, Regulations, common law and equity (legal concept), equity. This includes the right to a minimum wage of £11.44 for over-23-year-olds from April 2023 under the National Minimum Wage Act 1998. The Working Time Regulations 1998 give the right to 28 days paid holidays, breaks from work, and attempt to limit long working hours. The Employment Rights Act 1996 gives the right to leave for child care, and the right to request flexible working patterns. The Pensions Act 2008 gives the right to be automatically enrolled in a basic occupational pension, whose funds must be protected according to the Pensions Act 1995. Workers must be able to vote for trustees of their occupational pensions under the Pensions Act 2004. In some enterprises, such as universities or NHS foundation trusts, staff can Codeterminati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In The United Kingdom
In the United Kingdom, taxation may involve payments to at least three different levels of government: Government of the United Kingdom, central government (HM Revenue and Customs), Devolution in the United Kingdom, devolved governments and Local government in the United Kingdom, local government. Central government revenues come primarily from income tax, National Insurance contributions, value added tax, United Kingdom corporation tax, corporation tax and Hydrocarbon oil duty, fuel duty. Local government revenues come primarily from grants from central government funds, business rates in England, Council Tax and increasingly from fees and charges such as those for decriminalised parking enforcement, on-street parking. In the fiscal year 2023–24, total government revenue was forecast to be £1,139.1 billion, or 40.9 per cent of Gross domestic product, GDP, with income taxes and National Insurance contributions standing at around £470 billion. History A uniform Land Tax (Eng ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Perverse Incentive
The phrase "perverse incentive" is often used in economics to describe an incentive structure with undesirable results, particularly when those effects are unexpected and contrary to the intentions of its designers. The results of a perverse incentive scheme are also sometimes called cobra effects, where people are incentivized to make a problem worse. This name was coined by economist Horst Siebert based on an anecdote taken from the British Raj. The British government, concerned about the number of venomous cobras in Delhi, offered a bounty for every dead cobra. Initially, this was a successful strategy; large numbers of snakes were killed for the reward. Eventually, however, people began to breed cobras for the income. When the government became aware of this, the reward program was scrapped. The cobra breeders set their snakes free, leading to an overall increase in the wild cobra population. Cited in Brickman, p. 326. Perverse incentives arise in various fields such as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Citizens Advice
Citizens AdviceCitizens Advice is the operating name of The National Association of Citizens Advice Bureaux, which is the umbrella charity for a wider network of local advice centres. The abbreviation CitA is sometimes used to refer to this national Citizens Advice organisation. Citizens Advice does not use an apostrophe in its title since the 1980s. However, it appears in earlier usage: for instance, Margaret Brassnett's 1964 publication ''The Story of the Citizens' Advice Bureau''. (previously Citizens Advice BureauThe abbreviation CABx, short for Citizens Advice Bureaux, is sometimes used to refer collectively to local Citizens Advice offices. and also known as Cyngor ar BopethCyngor ar Bopeth translates as 'advice on everything' in Welsh) is a British independent organisation specialising in confidential information and advice to assist people with legal, debt, consumer, housing and other problems in the United Kingdom. The twin aims of the Citizens Advice service are "to pro ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Tony Blair
Sir Anthony Charles Lynton Blair (born 6 May 1953) is a British politician who served as Prime Minister of the United Kingdom from 1997 to 2007 and Leader of the Labour Party (UK), Leader of the Labour Party from 1994 to 2007. He was Leader of the Opposition (United Kingdom), Leader of the Opposition from 1994 to 1997 and held various shadow cabinet posts from 1987 to 1994. Blair was Member of Parliament (United Kingdom), Member of Parliament (MP) for Sedgefield (UK Parliament constituency), Sedgefield from 1983 to 2007, and was special envoy of the Quartet on the Middle East from 2007 to 2015. He is the second-List of prime ministers of the United Kingdom by length of tenure, longest-serving prime minister in post-war British history after Margaret Thatcher, the longest-serving Labour Party (UK), Labour politician to have held the office, and the first and only person to date to lead the party to three consecutive general election victories. Blair attended the independent s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Prime Minister Of The United Kingdom
The prime minister of the United Kingdom is the head of government of the United Kingdom. The prime minister Advice (constitutional law), advises the Monarchy of the United Kingdom, sovereign on the exercise of much of the Royal prerogative in the United Kingdom, royal prerogative, chairs the Cabinet of the United Kingdom, Cabinet, and selects its Minister of the Crown, ministers. Modern prime ministers hold office by virtue of their ability to command the confidence of the House of Commons of the United Kingdom, House of Commons, so they are invariably Member of Parliament (United Kingdom), members of Parliament. The office of prime minister is not established by any statute or constitutional document, but exists only by long-established Constitutional conventions of the United Kingdom, convention, whereby the monarch appoints as prime minister the person most likely to Confidence motions in the United Kingdom, command the confidence of the House of Commons. In practice, thi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Paymaster General
His Majesty's Paymaster General or HM Paymaster General is a ministerial position in the Cabinet Office of the United Kingdom. The position is currently held by Nick Thomas-Symonds of the Labour Party (UK), Labour Party. History The post was created in 1836 by the merger of the positions of the offices of the Paymaster of the Forces (1661–1836), the Treasurer of the Navy (1546–1835), the Paymaster and Treasurer of Chelsea Hospital (responsible for Chelsea Pensioner, Army pensions) (1681–1835) and the Treasurer of the Ordnance (1670–1835). Initially, the Paymaster General only had responsibilities in relation to the armed services but in 1848 two more offices were merged into that of Paymaster General: the Paymaster of Exchequer Bills (1723–1848) and the Paymaster of the Civil Service (1834–1848), the latter followed by its Irish counterpart in 1861. They thus became 'the principal paying agent of the government and the banker for all government departments except t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
