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Pie chart of UK government spending, 2023–24. [2]The most significant area of government spending is welfare (£341 billion in financial year 2023-24), [2] with the largest single element of this being for the State Pension, which totals £124 billion.
The Chancellors: A History of the Chancellors of the Exchequer, 1945-90 (HarperCollins, 1997) 619pp; 17 chapters covering the terms of each Chancellor. Fairclough, Isabela, and Norman Fairclough. "Practical reasoning in political discourse: The UK government’s response to the economic crisis in the 2008 Pre-Budget Report."
Spending by the UK in the US, on everything from food to munitions, occupied 40% of total British war expenditure by 1916. [173] The banking house J.P. Morgan & Co. won a concession in January 1915 to act as the sole purchasing agent for the Admiralty and War Department in the United States. $20 billion worth of trade was undertaken in this way ...
The welfare state represents around two-thirds of total government spending. [needs update] The welfare state of the United Kingdom began to evolve in the 1900s and early 1910s, and comprises expenditures by the government of the United Kingdom of Great Britain and Northern Ireland intended to improve health, education, employment and social ...
In the 20-year period from 1986/87 to 2006/07 government spending in the UK averaged around 40% of GDP. [132] In July 2007, the UK had government debt at 35.5% of GDP . [ 133 ] As a result of the 2007–2010 financial crisis and the late-2000s global recession , government spending increased to a historically high level of 48% of GDP in 2009 ...
Prior to the 20th century, the leader of the British government held the title of First Lord of the Treasury, and not that of Prime Minister of the United Kingdom. Therefore, the list below refers to the "Head of Government" and not the "Prime Minister". Even so, the leader of a government was often colloquially referred to as the "prime ...
In the 20-year period from 1986/87 to 2006/07 government spending in the United Kingdom averaged around 40% of GDP. As a result of the 2007–2008 financial crisis and the Great Recession, government spending increased to a historically high level of 48% of GDP in 2009/10, partly as a result of the cost of a series of bank bailouts. [20]
A spending review for the years 2011/12 through to 2014/15 was announced by the coalition government. This review was driven by a desire to reduce government spending in order to cut the budget deficit. [7] Chancellor of the Exchequer George Osborne announced the details of the spending review on 20 October 2010. [8]