Austerity undermines social protection
Only 20 per cent of the world’s population has adequate social security coverage such as old age and sickness pensions, maternity and paternity cover, and unemployment insurance. More than half lack any coverage at all. As globally government budgets come under increasing pressure, many are turning their social protect schemes to save money, but are such cuts justified? Do they in the long run actually undermine economic security?
Isabel Ortiz, Director of Social Protection, ILO