Invest More, Cut Welfare to Spur UK Growth, IMF Paper Argues

The UK could reduce inequality and strengthen the public finances by shifting government spending toward investment from welfare, wages and other overheads, the International Monetary Fund said.

In an early-released chapter of its Fiscal Monitor, the world’s economic supervisor urged countries to make better use of state spending to drive growth. It suggested finding savings from administration costs, public pay and “social protection” to fund infrastructure.