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Gavin Oldham

Thought for the Week: Welfare should be targeted, not universal

Gavin Oldham

Original Broadcast: Thought for the Week

not implemented

Universal publicly-funded welfare, including health care and education, has proved a very expensive Marxist experiment in western democracies. Far from resolving the challenge of eliminating poverty and disadvantage, it has loaded a huge debt burden on public finances which Rachel Reeves needs to address in the forthcoming UK Budget. But there is no point in loading still more income and capital taxes on the wealthy: they'll just leave the country in ever greater numbers, and economic growth — and tax revenue — will fall as a result. A much more practical solution is that people who can afford to pay for these services should do so, so that Government can focus financial support where it's most needed. Background music: 'The New Order' by Aaron Kenny

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