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Social Policy in a Cold ClimatePolicies and their Consequences Since the Crisis$
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Ruth Lupton, Tania Burchardt, John Hills, Kitty Stewart, and Polly Vizard

Print publication date: 2016

Print ISBN-13: 9781447327714

Published to Policy Press Scholarship Online: January 2017

DOI: 10.1332/policypress/9781447327714.001.0001

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Benefits, pensions, tax credits and direct taxes

Benefits, pensions, tax credits and direct taxes

Chapter:
(p.11) Two Benefits, pensions, tax credits and direct taxes
Source:
Social Policy in a Cold Climate
Author(s):

John Hills

Paola De Agostini

Holly Sutherland

Publisher:
Policy Press
DOI:10.1332/policypress/9781447327714.003.0002

This chapter examines changes in social security and direct tax policies, spending levels and their redistributive effects in the period since 2007. It discusses the importance in particular of the protection of the real values of benefits and tax credits in the years immediately after the crisis, but then the divergence between the favourable treatment of pensions compared to working-age benefits. Real spending on pensioner benefits grew under both Labour and Coalition governments, but those related to children started to fall under the Coalition. The combination of generous increases in tax-free personal allowances for income tax and selective cuts in working-age benefits under the Coalition was regressive. The policies adopted by the incoming Conservative government will continue and intensify these effects. The effects of the Coalition’s major Universal Credit and ‘pension freedom’ reforms remain uncertain

Keywords:   cash benefit, pensions, tax credits, direct taxes, redistribution

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