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basic rate

British  

noun

  1. the standard or lowest level on a scale of money payable, esp in taxation

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

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As for toll prices, the Tacoma Narrows Bridge’s basic rate of $5 for passholders, charged eastbound only, is expected to rise by 25 cents on Oct.

From Seattle Times

A press release for the party says it would be a 1p cut in the £1 on the basic rate, currently a total of 20% for earnings between £12,571 and £50,270 a year.

From BBC

The party said it would cut the basic rate by 1% before the next Senedd election in five years time.

From BBC

The document says the party would cut the basic rate of tax once the new jobs had been created, but does not specify the size of a cut.

From BBC

Retail trade union Usdaw negotiated the £10 per hour basic rate which is 50p an hour above the voluntary Living Wage Foundation rate.

From BBC