94% of Budget Cuts to Hit Women

  • The cuts to benefits and personal taxation are targeted at areas that will hit women the hardest.

    Figures show that women will lose nearly £4bn in latest household budget cuts, whereas the majority of those benefiting from the higher income tax cuts are men.

     98% of people who lose out on child benefit cuts are women, they are also 65% of those affected by public sector pay restraint, 80% of those affected by the housing benefit cap, 60% by the council tax benefit real-terms cut, and 78% by cuts to tax credits.

    Nearly 94% of the cuts to household budgets this year will directly hit women, new figures revealed last night.

    Cuts to child benefit and tax credits, and changes in personal taxation, that take effect in 2013-14 amount to a net £4bn off the family budget - £3.778bn of which comes from the purses of women, according to research provided by the House of Commons for the Shadow Minister for Women and Equality, Yvette Cooper.

    The research shows that 85% of those on incomes over £150,000 who will benefit from cutting the 50p top rate of tax to 45p are men, and just 15% are women. But other changes in benefits and taxation which came into effect this weekend are hitting women disproportionately harder than men.

    This is because women are often more likely to be on lower to middle incomes, are in receipt of child benefit or tax credits as the primary carer of children, or are listed as the named recipient for payments such as housing benefit. And they are more likely than men to work in the public sector, which is affected by pay restraint this year.

    Analysis of all the measures that come into effect this weekend, for the year 2013-14, shows that men as a whole gain £2.777bn, while losing a total of £3.033bn, leaving a net loss of £257m across the male population. Women gain a total of £2.838bn - mainly due to the increase in the starting rate for income tax - but they lose a total of £6.617bn, a net loss of £3.778bn.

    Ms Cooper said:

    These figures are stark proof of the deep unfairness in the Government's policies. This year's changes are worst of all - with cuts to child benefit, tax credits and maternity pay all hitting women hardest, while millionaires get a big tax cut.

    David Cameron and George Osborne are shutting their eyes to the impact of their decisions on women. This shows they haven't a clue about the pressures families are facing.

    Read the full article at The Independent.

     

     


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