A situation where welfare provision leads many people to depend permanently on state handouts and drop out of the labour market. Some economists believe this could be avoided by placing time limits on welfare handouts, or making receipt of benefits conditional on accepting training or workfare.

• trustee
• t test
• TUC
• turnkey project
• turnover
• turnover tax
• two-gap model
• two-part tariff
• two-stage least squares
• two-tier board
• type I and II errors
• unbiased estimator
• unbundling
• uncertainty
• uncompetitive
• UNCTAD
• undated security
• under-capitalized
• under-developed country
• under-funded pension scheme
• underlying rate of inflation
• under-subscription
• under-valued currency
• underwriting
• undistributed profits