As the Mirror has reported this morning:
Men have benefited far more from tax cuts for top earners than women.
Cutting the top rate from 50p to 45p four years' ago helped 16 per cent of women but 84 per cent of men.
If George Osborne slashes the rate further in the Budget — from 45p to 40p for those on £150,000 or more — will put even more money in men's pockets.
And as they continue:
Analysis by the Tax Justice Network found there are 339,000 people (284,000 men and 55,000 women) earning above that level.
Cutting the rate to 40p would be worth £3.3billion to high-earning men (89%) but just £428million to wealthy women (11%).
Tax Justice Network's Liz Nelson said:
“For every rich woman who gains from this tax cut, six rich men will get a boost.
"Women will also take by far the biggest hit from the ensuing spending cuts - they always do.
"A tax cut from 45p to 40p would reach deep into millions of women's pockets and hand the bonanza over to a lot of rich men.
"Are British women supposed to content ourselves with trickle-down from rich husbands?"
It's a good question. I suspect the answer would be telling.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
How I wish that the Tax Justice Network got more air time.
All I hear of is the Tax Payer’s Alliance. Again our media are just hopeless…………
I wish women would start protesting about this. I don’t agree with some of the claims of the current WASPI campaign that they didn’t know about pension changes in 1995. I am one of the women affected and I certainly DID know that my pension age was being raised. I despair that women were so ignorant of changes which affected them. Did they really not follow the budget or take any notice of the news? Claiming that they didn’t know seems a bit pathetic to me. However, the WASPI campaign does show that internet campaigns can go viral and be debated in Parliament. Women have a far stronger case with the cumulative effect of benefit cuts, inequality, lack of jobs for women in their fifties, etc. I’m doing my best to get the message out there on all the sites I belong to, but I’m still not going viral 🙁 Any suggestions for raising the profile are welcome.
“Cutting the top rate from 50p to 45p four years’ ago helped 16 per cent of women but 84 per cent of men.” is obvious nonsense — the fraction of the population directly “helped” by that tax cut (because earners over £150k need so much help…) is tiny. They’ve got their
What they mean to say is “16 per cent of those who benefitted from cutting the top rate from 50p to 45p four years ago were women; 84 per cent of those who received the tax cut were men.”