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Over all, Mr. Bloomberg's proposed budget is $560 million larger, or less than 1 percent, than the current one, due chiefly to increases in pension and health benefit expenditures that have ballooned under his watch.
The extent to which we might interpret this as a positive outcome of the reforms depends on the relative weights we give to the twin objectives of reducing benefit expenditures and increasing labour force participation.
1 In Finland, musculoskeletal disorders (MSDs) account for about a third, and mental disorders a fourth, of all sickness absence (SA) benefit expenditures, 2 and both produce a third of all disability pensions.
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The government's statistics show fraudulent benefit claims account for just 0.7% of total benefit expenditure.
For 2011-12 is is estimated that 0.8%, or £1.2bn, of total benefit expenditure was overpaid as a result of fraud.
Government statistics show fraudulent claims accounted for 0.7% – or £1.2bn – of total benefit expenditure in the financial year 2012-2013.
Just 0.7 per cent - or £1.2bn - of total benefit expenditure in 2012/13 was overpaid due to fraud.
Although the policy was shaving £60,000 a week from the benefits bill locally, this amounted to just 1% of the council's total weekly benefit expenditure.
Recognising this, we need to shift spending from income transfers to institutions, and prioritise services and capital investments over increases in benefit expenditure.
Total benefit overpayments due to fraud and error in the last financial year cost the Department for Work and Pensions £3.2bn – around 2% of the total benefit expenditure – according to the department's annual report and accounts for 2011-12.
And while both these figures may sound large, total overpayments account for less than 3% of benefit expenditure, and losses through fraud alone make up less than 1% of the benefits bill.
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