The financial encyclopedia uses cookies to improve your user experience. Find out more here!




Beveridge report (UK)


Lord Beveridge (then Sir William Beveridge) prepared a report in 1942 at the request of the government on Social Insurance and Allied Services, which was based on three aspects of a plan for social security. These were (a) a system of children's allowances, (b) a comprehensive health service, and (c) full employment. His report to the government covered the first two of these aspects. On the basis of contributions from income he proposed a system of social security to yield higher unemployment benefits, children's allowances, medical attention and pensions in order to prevent any individual's income from falling below subsistence level. The Beveridge Report was the basis for the Family Allowances Act of 1945 and the National Health Service and National Insurance Acts of 1946. In 1944 Lord Beveridge published on his own initiative Full Employment in a Free Society, which he described as an attempt to cover the third aspect of his 1942 report, that of full employment.

Reference: The Penguin Dictionary of Economics, 3rd edt.