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This study analyses the potential European Union (EU) added value (or untapped cost of non-Europe) in certain areas of social and labour policy: short-time work schemes, anti-poverty and inequality-reduction measures, and minimum wage regulations. The three areas are closely interlinked, and the study shows the potential relevance of EU action in addressing the main existing challenges. The quantitative analysis uses the 'budgetary waste rate' approach to measure the potential efficiency gains in the selected areas. Finally, the study discusses the channels that could allow the EU to support these gains and improve social outcomes.