Most people who work have to pay HM Revenue & Customs (HMRC) National Insurance Contributions (NICs) as well as tax. Payment of NICs may entitle you to benefits, such as a state pension and jobseeker’s allowance. Some are paid at a flat rate with others, the amount payable is linked to earnings. N I C …
I woke up this morning to the site of 8 inches of snow. My first thoughts were great! – no school today. (teachers enjoy a day off as much as students). Quite a few county councils have been alarmed at how quickly their stocks of salt for gritting the roads has dwindled. There appears …
Once you have researched a market and decided to set up a business, how do you provide the necessary finance to set up a business. 1. Personal Savings – If start up costs are very low, you may be able to set up business from own savings, e.g. small internet business. But, unless you have …
Definition of Income Gearing – this is the percentage of Post tax profits that are spent on obligatory debt interest payments Household Income Gearing – The Bank of England measure obligatory payments by households on paying interest and other regular repayments on debt. This is calculated as a proportion of post-tax income. What Factors influence …
Readers Question: Indicate the problems which are created for the government’s finances as a result of having to help avoid an even deeper recession. In a recession, automatic fiscal stabilisers automatically cause a rise in borrowing. The UK recession hit tax revenues hard. Income tax receipts fell as top earners were made unemployed. Corporation tax …
Most western economies are facing the prospect of record peace time government debt levels. The EU Maastrict Criteria stated that the maximum budget deficit member countries could run is a budget deficit of 3% of GDP. (By the way, I am glad this target for government borrowing has not been enforced. That would have been …
Readers Question: I trying to find appropriate policies that the Icelandic government could adopt to deal with the country`s substantial current account deficit. Do you know what policies they are using for the moment, and more importantly which policies they should adopt? Related Problems with Iceland Economy Solving UK Current account deficit At the height …
Readers Question: i am 16 and i have been working in Mcdonalds in my local area for about a year now do you think I should ask for higher wages? Danielle (from Min Wage 16-17 year) Well according to another commentator, Christopher, he is 17 and earns £4.35 an hour and ‘if i work well …