What Miquita Oliver’s bankruptcy tells us about women and money

“I knew nothing about tax – absolutely nothing,” Miquita Oliver said on her Miss Me? podcast this week, reflecting on how she went bankrupt aged 27. “I come from parents who know nothing about tax. They didn’t think to ask me whether I was paying tax on the money that I was earning, and I was earning a lot of money. I didn’t ask.”

Now 40, Oliver explained how she was hit with a £170,000 bill after not paying her taxes for three years. As well as declaring bankruptcy, the presenter shared how she was forced to sell off personal possessions to repay her debt – adding that it wasn’t her accountant’s “fault” and that, despite his advice to put money aside each month, she “just stopped doing that” after a while.

Of course, her specific set of circumstances are not entirely relatable (sadly we’re not all “earning lots of money”, especially in our twenties), but her feeling that “this tax and VAT stuff is starting to intimidate me and scare me and I don’t understand it so I’m just going to start not paying it and hiding from it” certainly is. Particularly for women.

In 2024, the insolvency rate for women (26.5 per 10,000) was higher than the rate for men (22.1 per 10,000) – and this has been the case for 11 years running. The only age group where men had a higher insolvency rate was those aged 65 and over.

When it comes to bankruptcy, specifically, although historically more men have declared the financial status, the opposite has been true since 2021, with Covid exacerbating the issue.

Now, it may be tempting to fall into the gender stereotype trap – you know, the whole “girl math” trope, or the idea that women “love to shop”, or that we’re “no good with money”. But it’s not as simple as that.

While many governments have outlined various reforms, taxation laws and policies are still laden with both explicit and implicit gender biases. These systemic imbalances also extend to cultural ones, meaning that, still, women bear the brunt and financial illiteracy is rife.

I know I grappled with personal finance when I was younger. Although I had a part-time job from the age of 12 and felt relatively adept at managing money and budgeting, I had no clue where to begin with student finance when I set off for university. My parents couldn’t help me either – not through lack of desire, but because I was the first generation in my family to go. And although my sixth form was very adamant we all went on to further education, there was little provided in the way of practical help.

Going freelance full-time two years ago also meant expanding my knowledge of tax and self-assessments, and it took a colleague of mine to tell me about things like plugging gaps in my National Insurance contributions and single occupancy council tax discounts for me to fully take control of my finances. I’ve never been in debt (beyond my student loan), but I wouldn’t say I was savvy when it comes to money either.

Then there are the implications of joint taxation, where married couples or civil partners file joint declarations, which can decrease their overall tax burden for the household. In some instances, though, where pay disparity between partners is significant, the secondary earner or lower income earner – which tends to be women, with the current gender pay gap standing at 7 per cent – can be subject to a disproportionately higher marginal tax rate.

This, combined with the fact that women are eight times more likely to be the primary caregiver for children and also more likely to care for elderly family members (whether or not their blood relatives) – as well as the newly-announced welfare cuts, pension reforms, and ridiculously high childcare costs – deters them from entering full-time employment in the first place. Even those who do are more likely than not to be self-employed and face the HMRC nightmare that is self-assessment, because of their caregiver responsibilities. And that’s before we even get into how inheritance tax, capital gains tax, property ownership and consumption skew things, or how single mothers shoulder even more of the burden.

Yes, it could be argued that the knowledge gap extends beyond just women – only 6 per cent of 16-24-year-olds say they learnt about finance at school – and things like socio-economic background also factor in. But there’s still evidence that women and girls are not only disproportionately affected by systems in place, the assumption remains that men and boys should learn about things like taxes, mortgages and investing, because they are the main breadwinners.

This is such a disservice – not just because it limits women and makes them more susceptible to debt, but because it adds yet another obstacle when it comes to entering the workforce and enjoying a successful career. On the surface, it seems as though more women are becoming financially independent and have more agency when it comes to work and motherhood, among other things. But in reality, we’re still met with all kinds of setbacks.

Multiple prisons in France hit by ‘co-ordinated’ attacks

Multiple prisons in France have been attacked, the country’s justice minister has said – with reports of gunfire and arson.

France’s anti-terrorism prosecutor’s department is investigating the attacks alongside the national security agency, while local media reports claim the attacks were co-ordinated.

Vehicles were set alight in prison car parks, according to Le Parisien, while a prison in the southern city of Toulon was fired at with an automatic weapon.

“Attempts have been made to intimidate staff in several prisons, ranging from burning vehicles to firing automatic weapons,” Justice Minister Gerald Darmanin confirmed on social media platform X.

The wave of attacks comes as lawmakers are poised to approve a sweeping new anti-drug trafficking law that would increase the powers of police investigating narcos and create a new prosecutors’ office for organised crime.

Record cocaine imports from South America to Europe have increased drug violence in France, where cocaine seizures are at an all-time high.

Drug groups have expanded from traditional power bases like Marseille into smaller regional towns.

“These targeted, cowardly, and heinous attacks aim to terrorise those who embody the authority of the State and ensure the safety of all on a daily basis, even at the cost of their own peace of mind,” prison staff union UFAP said.

Prisons were also hit in Aix-en-Provence and Marseille, Valence and Nîmes, Luynes, Villepinte, and Nanterre, according to local reports.

Prison unions have said burnt vehicles have been found outside prisons for several days, BFMTV reported.

Student cars were also set alight outside the National School of Prison Administration on Sunday evening, FO Justice union said.

Mr Darmanin said that he would travel to the southern city of Toulon to support officers impacted by the attacks.

He has been leading efforts to crackdown on prison security and people operating from behind bars.

Here’s what we know so far:

According to newspaper Le Parisien, the entrance to Toulon prison was targeted by gunmen in a car at around 1am. The gunmen fled the scene.

Gendarmes found the door had been hit seven times and several boxes of ammunition were left on the ground, Le Parisien reported. No one is believed to have been injured.

Several vehicles were set on fire in a street in the 13th district of the southern French city, according to BFMTV, with “DDPF” found spray painted near.

DDPF stands for “Droit des Prisonniers Français” – the rights of French prisoners.

Le Parisien reported that a residence known for housing prison guards in the north of the city was targeted.

The newspaper said two cars were burnt and nine were spray-painted with DDPF. It is not yet clear whether these reports relate to the same cars as those reported by broadcaster BFMTV.

Two people were seen setting fire to a car belonging to prison staff on Monday evening, local reports said.

The car was parked in the prison car park and a petrol can was found nearby.

Nanterre is a suburb of Paris in the north of the country.

Union staff later confirmed staff vehicles were set on fire outside jails in Nanterre, Villepinte, Aix-Luynes, and Valence.

Later at around 10.30pm, two men were seen setting fire to three vehicles parked in the prison car park in Villepinte, another Parisian suburb.

Two of the cars belonged to prison staff, and a can of petrol was also found at the scene.

Union staff later confirmed staff vehicles were set on fire outside jails in Villepinte, Nanterre, Aix-Luynes, and Valence.

Someone on a scooter set fire to vehicles outside the prison in Valence in southeast France, according to BFMTV.

Meanwhile Le Parisien reported that it was two cars belonging to prison staff which were set on fire in the car park.

Union staff later confirmed staff vehicles were set on fire outside jails in Valence, Villepinte, Nanterre, and Aix-Luynes.

Vehicles were damaged in the southern city of Nîmes.

Local media reported that DDPF was also spraypainted on the vehicles in Nîmes.

As in Nîmes, Le Parisien reported the discovery of damaged vehicles sprayed with DDPF in Luynes village in southern France.

BFMTV also said cars had been set alight in a prison carpark. The village is known for its prison and international schools.

Union staff later confirmed staff vehicles were set on fire outside jails in Aix-Luynes, Valence, Villepinte, and Nanterre.

Man pleads guilty to murdering two women in Christmas Day stabbing

A man has pleaded guilty to murdering two women and trying to kill two other people in a stabbing in Milton Keynes on Christmas Day.

Jazwell Brown, 49, attacked Joanne Pearson, 38, and Teohna Grant, 24, at an address in Santa Cruz Avenue, Bletchley, on December 25 last year.

He also tried to murder Bradley Latter, 29, and a teenage boy during the incident, in which he was carrying a kitchen knife.

Brown appeared in person at Luton Crown Court on Tuesday and spoke only to confirm his identity and admit to two counts of murder and two counts of attempted murder during a brief hearing.

The defendant, of Santa Cruz Avenue, Bletchley, also pleaded guilty to one count each of possession of a knife in a public place and causing unnecessary suffering to a protected animal, a Staffordshire bull terrier.

Officers were called to Santa Cruz Avenue at about 6.30pm on December 25.

The two women died at the scene, while Mr Latter and the teenage boy were taken to hospital with serious injuries.

Police previously said the dog that was injured in the incident had died, but they have since been informed it survived.

Charles Miskin KC, defending, said Brown had shown remorse for his actions and was “profoundly sorry”.

Mr Justice Kerr remanded the defendant into custody to be sentenced at the same court on May 22.

Celia Mardon, of the Crown Prosecution Service, said: “This was an inexplicable attack which has done irreversible damage – robbing two women of their lives and seriously injuring two others.

“The strength of the prosecution’s case, which featured compelling witness, CCTV and forensic evidence, gave Jazwell Brown little choice but to admit his guilt, and we are pleased that those affected by this tragic event have been spared the process of a trial.

“While we may never know why Brown committed such mindless violence, we must remember the two lives that were needlessly lost.

“Our thoughts remain with the loved ones of Joanne and Teohna, and we hope that today’s result provides them with some closure.”

Britain will not tolerate destructive behaviour masked as investment

It is a jarring fact indeed that in Britain – a G7 economy and Promethean birthplace of the industrial revolution; an island still sitting on coalfields and deposits of iron ore – the routine movements of raw materials for making steel are the subject of interference, plotting and breaking news.

When the TV news networks unleash the helicopters, as they have at the British Steel works in Scunthorpe and the docks in Immingham, tracking the movements of raw materials is a sign that a major national story is unfolding. It is no exaggeration to say that the urgency and 24/7 rolling coverage are comparable to a royal funeral.

It has all the elements of any thriller: the blast furnaces that have been in non-stop operation have only days – if not hours – of life left in them before they are extinguished forever. What would go with them is an asset of strategic importance, vital to national security, amid intense fears of sabotage from China.

It is a truly shocking state of affairs. While Britain is, rightly, greenlit to foreign investors and has much to offer, we must not – and will not – tolerate destructive behaviour by nations such as China masked as investment. Sir Keir Starmer has been swift to recognise the dangers – and to put measures in place to protect British industry.

This “race to save British Steel” (or at least the part trading under that name), is hugely portentous – and precarious. It must provide lessons and act not only as a sober warning for Britain to protect its interests but also as a caution to those who would seek to take advantage. It is difficult to imagine this happening in Japan or Germany. Or, indeed, in China, the home of the Jingye Group, nominally still the owner of British Steel.

It’s not hard to imagine a minister of the Chinese government holding near-dictatorial powers to control its steel industry. It is, however, truly shocking that this could be brought here, to Britain’s doorstep.

It is entirely right, then, that under these dire circumstances a democratic British government, respectful of the rights of property, has seized control – and, in effect, expropriated – a private company, even one that is nominally under the direction of the Chinese Communist Party; regardless of the fact that the Chinese foreign ministry is complaining about whether Britain is a trustworthy place for foreign direct investment.

The prime minister and the unlikely generalissimo of British heavy industry, Jonathan Reynolds, are “confident” that supplies of coking coal can be secured and that the blast furnaces will not go out. It is a great relief. Yet the government – and its predecessors – will need to answer some hard questions about how things ended up in this sorry state.

Mr Reynolds has given his account of how he was, in essence, strung along and misled by Jingye, which is not how a major industrial group should behave. But he and the Starmer administration have narrowly missed a debacle that would have been even more costly than any likely rescue – and after some weeks when the public warnings about the approaching dire situation were coming from the unions and the opposition parties.

One particular issue that needs to be determined is whether the proposed coking coal operation at Whitehaven, understandably vetoed on environmental grounds, really would have provided a ready source of that crucial ingredient – and why Mr Reynolds maintains that it was “not material that we could have used at British Steel”. There seems some confusion about that, as there is with the events immediately preceding the emergency powers granted by parliament on Saturday.

In his recent interviews, Mr Reynolds has sought to draw a distinction between those strategic sectors where Chinese entities are (putting it crudely) not to be trusted, such as steel; and others, for example, automotive. Presumably, the Chinese involvement in the Greene King brewery isn’t a potential matter of national survival – but the operations of water utilities are.

Fundamental issues are raised in this nascent post-globalisation world, such as where the UK will go to find investment and trading partners. For very different reasons over the past decade, Brexit has erected trade barriers with the European Union, President Trump has imposed tariffs on British goods exports to the United States, and the UK is drifting into a kind of economic cold war with China.

Meanwhile, the free trade deal with India that every prime minister since David Cameron has so ardently pursued remains elusive. (It’s worth noting too that Tata of India happens to be in charge of most of the rest of the British steel industry.) That does not leave much of the global economy.

What the British Steel affair illustrates is that its long history as the first industrial nation, its maritime trading traditions and an eager embrace of globalisation have made the UK one of the most open economies in the world – and thus especially vulnerable to the current wave of protectionism. We must be careful of appearing hostile to foreign investors.

Nevertheless, it is certainly in the national interest to rescue British Steel – and see it provide all the rails, beams and girders for the major housing, defence and infrastructure projects that will soon be providing plenty of orders for Scunthorpe. It is, more than that, a matter of national security.