Magazine article Public Finance

Cut Poverty by Closing Tax Loopholes, Says Study

Magazine article Public Finance

Cut Poverty by Closing Tax Loopholes, Says Study

Article excerpt

Child poverty costs the UK £38bn annually, or £640 for every person, according to research that urges ministers to tackle rising inequality.

A study by the Trades Union Congress, published in Brighton, calls on the government to pay for anti-poverty programmes by closing tax loopholes.

Report author Richard Exell told Public Finance: 'The figures expose the extent of the challenge facing the government if it is to meet its target to eradicate child poverty by 2020 and to halve it by 2010.'

Despite an overall decrease of 600,000 in the number of children living in poverty since 1997, the number rose by 100,000 to 2.8 million between 2004/05 and 2005/06. The government claims that a fifth of children live in poverty, putting ministers behind schedule to meet the 2010 target, while the Office for National Statistics published data showing that inequality is rising. …

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