Cost of a free lunch View(s):Last week, on the invitation of the Welfare Benefit Board, I attended a workshop at the Sri Lanka Foundation Institute and delivered a guest lecture. It struck me that we seldom hear about the challenges of maintaining a welfare state. In aggregate, government welfare spending is substantial, though it may be smaller at individual level. Borrowing from the WestThe welfare state is largely a Western concept, borrowed by Sri Lanka from the British. By 2025, interest payments alone consumed 56 per cent of tax revenue, while total debt service reached 95 per cent.

Source: Sunday Times February 28, 2026 20:29 UTC