The Working Families Tax Credit

In: National Institute economic review: journal of the National Institute of Economic and Social Research, Volume 166, p. 74-77

Abstract

Gordon Brown's first Budget as Chancellor signalled a new emphasis on microeconomic relationships in economic policymaking. Whereas in the past there has been implicit acknowledgement that macroeconomic policy relies on appropriate responses in individual behaviour, this time the policy focus was explicitly on the structure of the incentives facing employers and employees.