As of 2023, the means-tested net social protection in the UK stood at approximately €102.85 billion. From 2024 to 2028, forecasts show a gradual decline in net social protection spending, falling from €102.29 billion in 2024 to €100.13 billion in 2028. Year-on-year variations indicate a slight decline, with a CAGR of -0.67% over the five-year forecast period.
Future trends to watch for include:
- Economic shifts impacting government budget allocations.
- Policy changes targeting welfare reforms and efficiency improvements.
- Demographic trends, such as aging populations, influencing social protection needs.
- Inflation rates affecting the real value of social spending.
