£48bn Budget gap for women Anger as 27 million worse off

WOMEN are today revealed as the £48billion losers in Rishi Sunak’s Budget.

On average, all over-18s will be £1,800 worse off over the next six years because of the Chancellor’s tax rises – and those who are older will be hammered with £2,500 less in pension benefits.

A gender audit by the House of Commons Library shows that 27 million women will be disproportionately affected.

Researchers say women will lose a total of £56billion – but can claw back £8billion of that because of the 8% cut in the Universal Credit taper rate.

It means they will lose 55p of every pound earned instead of 63p. Women will also miss out on:

£39.3billion from next year’s hike in National Insurance.

£15.5billion from the halting of the pension triple lock.

£161million from the decision to push Pension Credit changes back from 2023 to 2025.

Shadow women and equalities secretary Anneliese Dodds said: “It’s scandalous that this Conservative Government is picking women’s pockets when so many are still picking up the pieces from the Covid pandemic.

“Women needed a plan to tackle the growing cost-of-living crisis. What they got was an out-oftouch budget that cut taxes on banks, frequent flyers and champagne but left women £48billion worse off.” Labour claims there were also few equality impact assessments as required by law in Budget documents – just four out of 194 pages.

Ms Dodds added: “That tells you all you need to know about this Government’s priorities. Equality isn’t one of them.”

Research shows Covid has had a greater impact on the incomes of women than men.

Female workers were more likely to be furloughed, lose pay to home-schooling or be employed in sectors seeing slow recovery.

The Commons report says 46% of the £105billion raked in by the Chancellor will come

from women.