childcare, are just as important and often have an even greater impact than social transfers in reducing poverty and gender inequality. A comprehensive approach to social policy that combines universal access to social services with social protection through contributory and noncontributory transfer systems is the best way to realize economic and social rights for all without discrimination. Currently, only 27 per cent of the world’s population enjoys full access to social protection, whereas 73 per cent are covered partially or not at all.16 Women are often overrepresented among those who lack access to social protection. The definition of national social protection floors, including basic income security for children, working-age adults, older people and people with disabilities as well as the extension of basic social services to all, therefore holds significant promise for women. The introduction of universal social pensions in countries such as the Plurinational State of Bolivia, Lesotho and Mauritius, for example, has helped close gender gaps and provide women with basic income security in old age. In order to contribute to substantive equality, social policies have to be designed with women’s rights at the centre. Particular care is needed to ensure that policies redress women’s socio-economic disadvantage without either reinforcing gender stereotypes or stigmatizing women for needing support. Policy makers should progressively move towards universal, rather than targeted, transfers and services and eliminate co-payments that compromise affordability of health and education, particularly for poorer women and girls. Where possible, conditions tied to the receipt of transfers should be removed, particularly those that reinforce women’s traditional roles and add to their overall work burdens. Instead, women’s empowerment should be an explicit goal of social protection. Investing in more and better services—including health services, education and training, credit and childcare services—to address women’s needs headon and to bolster their income security in the long term is crucial here. With women’s rights placed at the heart of policy design, sustainable and equitable routes out of poverty are possible.
Investing in social protection and social services may seem daunting in the current economic climate. But it is possible. It has been estimated, for example, that the introduction of universal social pensions would cost around 1 per cent of gross domestic product (GDP) per year in most countries in subSaharan Africa. In many low-income countries these benefits will have to be implemented gradually. But as well as realizing women’s rights, the long-term benefits of social investments—such as maintaining a skilled workforce, healthy and well-nourished children capable of learning and creativity and societies where no one is left behind—will more than outweigh their immediate costs.17
3. Rights-based macroeconomic policies
Because macroeconomic policy is treated as ‘gender-neutral’ it has, to date, failed to support the achievement of substantive equality for women. From a human rights perspective, macroeconomic policy needs to pursue a broad set of objectives that include the reduction of poverty and gender inequality. Integrating these social objectives would mean: expanding the targets of monetary policy to include creating decent work; mobilizing resources to enable investments in social services and transfers; and creating channels for meaningful participation by civil society organizations, including women’s movements, in macroeconomic decisionmaking. Conventional monetary policy typically has one target—inflation reduction—and a narrow set of policy tools for achieving it. Although managing inflation is an important goal of monetary policy, the benefits of maintaining very low rates of inflation are not clear cut, particularly when trade-offs exist—with employment generation, for example. There are policy choices to be made: in the wake of the 2008 crisis, many central banks changed their approach to monetary policy by stimulating real economic activity rather than focusing exclusively on inflation. In the arena of fiscal policy, countries can raise resources for gender-sensitive social protection and social services by enforcing existing tax obligations, reprioritizing expenditure and
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