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The scale of the UK welfare budget is considerable and may surpass Colombia's GDP in fiscal year 2031.

The scale of the UK welfare budget is considerable and may surpass Colombia's GDP in fiscal year 2031.

智通财经智通财经2026/11/12 11:37
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(1) The UK's welfare expenditure for this year is expected to reach £351 billion, a figure which already surpasses the GDP of countries such as Romania and Pakistan; in the 2031/32 fiscal year, it is projected to rise to £428 billion. (2) Official forecasts indicate that welfare expenditure for the 2031/32 fiscal year will exceed the current GDP levels of Colombia, Malaysia, and Vietnam. (3) The Prime Minister has pledged to control welfare spending but refuses to make aggressive subsidy cuts. Major welfare reforms are expected to be postponed until next year, and it is unlikely that any significant savings will be seen in the short term. (4) The opposition party has proposed a plan to cut welfare expenditure by £35 billion, stating that welfare spending for the working-age population has already surpassed the combined budgets for defense, education, and policing. (5) The government plans to first allocate resources to address youth unemployment, while simultaneously advancing reforms to disability benefits assessments, aiming for long-term cost control through targeted investment.
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