2018 WBG Briefing: Tax and Gender
Ahead of the 2018 Autumn Budget, we’ve put together a briefing on the impact of tax policy on women.
Press Release
Cuts to corporation tax largely benefit men
Reacting to Conservative Party tax and spending plans this week, Dr. Mary-Ann Stephenson, Director of the Women’s Budget Group said:
“WBG welcomes Conservative plans not to make further cuts to corporation tax. This will free up £5.3bn in 2020-21 to reinvest in vital public services. Returning to the rate of 20% that prevailed until 2017 would raise £7.8bn; returning it to 26%, the level it was at in 2011/12, would raise around £19bn. The majority (75%) of FTSE 250 shareholders are men and the majority of low earners (69%) are women so cuts to corporation tax largely benefit men.”
“However, Boris Johnson’s plans to increase the threshold for National Insurance Contributions will largely benefit higher earners the majority of whom are men and will do nothing for the poorest who don’t earn enough to pay NICs (the majority of whom are women. It would be better to target this money at the least well off through increasing the level of Universal Credit. 33% of people claiming Universal Credit are in employment and 55% are women.
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The Women’s Budget Group is a feminist economics think and do tank. We are a network of academics, trade unionists, civil society organisations and activists who analyse the intersectional impact of economic policies on women and men and, promote alternatives for a more gender equal future.
Ahead of the 2018 Autumn Budget, we’ve put together a briefing on the impact of tax policy on women.
Briefing from the UK Women’s Budget Group on the impact of changes in taxation policy on women.
Submission to the UN Special Rapporteur on Extreme Poverty & Human Rights in the UK.
What are the party manifestos promising on tax at this election, and how would their proposals impact women?