Women will face three-quarters of the brunt of George Osborne’s plan to freeze tax credits and benefits if the Tories win the election, new figures show.
 
According to analysis by the independent House of Commons Library, commissioned by Labour, 75 per cent of the savings from the real-terms cut will come from women.
 
When it comes to tax credits, women will be even harder hit. 80 per cent of the estimated savings will come from women and 20 per cent from men.
 
Labour has already exposed how over two-thirds (68 per cent) of people who would be hit by George Osborne’s real-terms cuts to tax credits are in work.
 
And analysis by the House of Commons Library for Labour earlier this year has shown that since 2010 George Osborne’s Budgets, Autumn Statements and Spending Reviews have taken six times more from women than from men.

Ed Balls MP, Labour’s shadow chancellor, said:
 
“These new figures show how, once again, women will bear the brunt of David Cameron and George Osborne’s choices. This follows four years of Budgets which have taken six times more from women than men – even though women earn less than men.

“Of course we need to make savings to get the deficit down. But the Tories have chosen to hit millions of working families on modest incomes again, while keeping their huge tax cut for millionaires.

“Working people are already worse off under this government. If the Tories win next year 3 million working people face being made worse off because their tax credits will be cut again. This Strivers’ Tax will cost a one earner family with two children earning £25,000 almost £500 a year.

“Labour will balance the books as soon as possible in the next Parliament, but we will do so in a fairer way. While the Tories target working people our tough but balanced approach will start by reversing the £3 billion a year Tory tax cut for the top one per cent of earners.

“And our economic plan will make work pay by raising the minimum wage, introducing a lower 10p starting rate of tax and expanding free childcare for working parents of three and four year olds to 25 hours a week.”

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