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Another notional couple with joint earnings of £39,000 (he earns £28,000 and she £11,000) who work 42 hours between them and have a baby cared for by a registered childminder while they are at work, would lose even more – some 6.9% of disposable income in 2011-12 compared with 2010-11.
By contrast, families where both parents earn close to the threshold could retain the benefit on joint earnings of over £80,000.
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Similarly, the proportion of new lending done at a high loan-to-value and high income multiple – defined by the FSA as more than 3.5 times a single borrower's income or 2.75 times joint borrowers' earnings – which accounted for almost 9% of new lending two years ago, made up less than 1% of new lending in the final quarter of last year.
And is it right that this publicly-funded academic is deemed so precious he is worth the joint salary of 20 fellow Brummies, based on average earnings?
Yet, it is very difficult to model the joint determination of earnings and employment adjustments using two separate datasets on employment and earnings that do not match at the individual establishment level.
"Whether the joint return shows earnings from one or both spouses is irrelevant in calculating the credit," said Bob D. Scharin, a senior tax analyst from the Tax & Accounting business of Thomson Reuters.
GM says it yielded as a favor to its longtime partner, which wanted to consolidate the joint venture's earnings into its publicly reported financial results.
Their loss, which is softened by their joint annual salary of up to £400,000, will provide Blair with an incentive to follow the example of John Major, whose earnings since he left Downing Street are now running well into the millions.
The Mills Corporation, a developer and manager of shopping malls, said it would restate its financial results for 2002 through 2004 to correct accounting that was partly related to its treatment of earnings from joint ventures.
Their funding and ownership stakes let AOL make overseas excursions without crimping AOL operating earnings, but joint ventures of giants produce awkward organizations that more agile outfits can outflank.
They include equity in earnings of joint venture corporations as reported, but exclude nonoperating revenue such as dividends and gains from the sale of real estate.
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