OECD Social Expenditure Update 2019

The Organisation for Economic Co-operation and Development (OECD) has just released the latest update of social spending in OECD countries.

Key findings include:

Public social expenditure was just over 20% of GDP on average across in the OECD in 2018;
The largest spending item is public spending on pensions worth 8% of GDP on average across the OECD and over the last decade such spending has increased by 1 per cent per year.
At over 10% of GDP, private social spending on health insurance and pensions is highest in the Netherlands, Switzerland and the United States.
After accounting for private social expenditure and the impact of the tax system, France is the biggest social spender at about 32% of GDP; net total social spending in the United States is second highest across the OECD at 30% of GDP.