Purple Tax Impact
Purple Tax Impact: how employees with disabilities support the economy to grow and thrive.
During 2022 #PurpleLightUp, a mark of respect to International Day of Persons with Disabilities, PurpleSpace launched a new report to showcase the tax contribution of people with disabilities.
While only UK statistics were used (due to lack of data across the globe) it serves as a powerful reminder of how disabled employees need to be positioned as ‘contributors’ rather than ‘beneficiaries' of tax to national economies.
To foster economic growth and development governments need sustainable sources of funding for social programs and public investments. Programs providing health, education, infrastructure and other services are important to achieve the common goal of a prosperous, functional and orderly society. And they require that governments raise revenues.
Taxation not only pays for public goods and services; it is also a key ingredient in the social contract between citizens and the economy.
A quick internet search of key words ‘Disabled People’ and ‘Tax’ will generate a list of how disabled people can claim benefits and reduce their tax.
Little evidence is found on the economic contribution of people with disabilities to our tax revenues. In fact, it is extremely difficult to pinpoint exact data that shows how much Tax and NI is paid into the social contract by disabled people.
We know that disabled consumers spending money – ‘The Purple Pound’ equates to £249 billion a year to the UK economy.
The big question we now need to ask is, how do we showcase the contribution by people with disabilities to HMRC in tax revenue raised?
This report calls out the tax contribution of people with disabilities, and the opportunities for economies across the world.
It offers four clear calls to action.
PurpleSpace are grateful to KPMG for their help and support in the creation of the guide.
PurpleSpace members can access the resource here.
This resource is free to download.
If you are not a member, please help us understand more about your needs by providing us with the following information: