I want Britain to be the best country for raising a family. Many wish to have one stay-at-home parent or one part-time worker - particularly when children are young. However, the current tax regime – spanning almost 40 years – unduly penalises those families that choose to raise their family in this way.
At present, stay-at-home and part-time working parents cannot transfer their full tax allowance to their spouse, meaning many families are worse off than those who earn the same when both parents work full-time – simply for choosing to raise their family in this way.
To make sure that stay-at-home parents aren’t penalised, you can be sure that I will keep up the pressure for a fully transferable tax allowance. This will:
- Recognise the efforts of stay-at-home parents;
- Reduce reliance on taxpayer-funded childcare, because it isn’t right for every family;
- Encourage inter-generational households, which reduces the cost of adult social care;
- Reduce poverty by 4.3%, with the poorest families getting the greatest benefit.
I believe families should have the freedom to live their own lives and spend their own money as they wish. They earned it, and they deserve it. That’s why the tax system should be fair to all households, including those with a single or main earner.
If you agree with me, that families should not be penalised in the tax system, please sign the petition below.