Work and Pensions Committee - intergenerational fairness inquiry: written evidence

Publication type:

Parliamentary Paper

Publication date

15 Feb 2016

Summary

Executive Summary: The overall effect of the 2010-15 Coalition Government’s tax and benefit policies was regressive ; Children were hardest hit by policy changes, along with those in their 30s and early 40s ;  The greatest beneficiaries from changes to taxes were those in their early 60s, but those in their 20s also benefited ; The gains that the over-65s accrued from the “triple-lock” on pensions were partly offset by cuts to other benefits, which particularly affected older pensioners ; Looking at the picture that would emerge in 2020/21 one finds that losses suffered by children would intensify, whilst those over 65 would lose out due to loss of benefits outweighing any gains from the triple-lock ; Across Europe the elderly have tended to have larger gains (or smaller losses) – this is the case in the UK, although the indexation employed has a significant effect on outcomes.

Subjects

Public Policy, Welfare Benefits, Income Dynamics, Microsimulation, Taxation and Economic Policy

Links

http://data.parliament.uk/writtenevidence/committeeevidence.svc/evidencedocument/work-and-pensions-committee/intergenerational-fairness/written/29366.html