How to Pay for the Future develops the strategy for reconstructing Britain’s welfare system first outlined in Making Welfare Work. The second of a three volume series, this book:

– extends the argument that means-tested benefits penalise self-help and discourage self-improvement while taxing honesty and saving;

– explains how means-tested benefits reward claimants for being inactive and deceitful;

– advances welfare reforms which reflect both self-interest and altruism.

How to Pay for the Future contains detailed proposals for building a genuine stakeholders’ welfare system. The programme comprises:

– universal contributions towards second pensions, with clearly ascribed ownership rights for each stakeholder;

– a new national stakeholder insurance system which ties benefits to contributions;

– a proactive income support agency which helps claimants build their own exits from welfare dependency.

How to Pay for the Future argues that universal welfare provision can only be guaranteed by combining individual contributions to savings and insurance schemes with stakeholder ownership and control.

How to Pay for the Future includes costings from the Government Actuary’s Deparment.