UK Budget Assessments
2014 Spring Budget: Budget Briefing
Date Posted: Monday 12th May 2014
2014 Spring Budget
Giveaways to men, paid for by women
A briefing from the UK Women’s Budget Group on the gender impact of measures announced in the 2014 Budget. For a full analysis please see our 2014 Budget report here.
- The majority of tax giveaways such as increases in the personal tax allowance, which alone cost £12bn a year, will go to men and those on higher incomes. This is equivalent to the £12bn additional cuts to social security benefits (the brunt of which are borne by women) to be made in the first two years of the next parliament.
- The cap on social security spending (£119.5bn for 2015-16) will have more impact on women who rely on benefits more than men. It will also do nothing to address the root causes of increased need.
- Sweeping reforms in pensions and savings do little to help women with low incomes and increase risks of poverty for many pensioners in the future.
- Increases in childcare support are welcome but in order to sustain quality and control prices, this help should come in the form of direct public provision of childcare (like early education provision).