Conquering the welfare Leviathan
From our UK edition
Among the biggest of challenges facing the new government is the need to make welfare more affordable while continuing to support people in need. There is a strong case for lowering the welfare bill. At around £200 billion the government spends more on welfare than anything else. Spending on pension benefits alone is £77 billion and forecast to grow to £240 billion (in today’s money) by 2050. As George Osborne has noted if the welfare bill is not cut then eliminating the deficit will mean that cuts to other departmental budgets will have to be much deeper. But some of the most important reasons for welfare reform are non-financial.