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Labour’s historic budget will see spending on the NHS increase by 3.8 per cent in real terms in 2025-26, and funding for infrastructure increase to £13.6 billion – an uplift of 10.9 per cent.
The tax rises and increased borrowing in the Budget provide a £3.1 billion increase in the NHS’s capital funding, aimed at buying new equipment and building new hospitals. ... terms growth in ...
Rachel Reeves confirms Budget will raise taxes by £40bn. 12:50, Kate Devlin. The chancellor has confirmed that her first Budget will raise taxes by an eye-watering £40bn.
Debt interest has grown as a proportion of government spending in the last few years as a result of rising interest rates, and increased debt due to primarily to the cost of the Covid pandemic. [10] In financial year 2018–19, debt interest was £43 billion - around 5% of total government spending [11] compared to around 10% in 2023–24.
The most recent budget was presented by Rachel Reeves on 30 October 2024. The UK fiscal year ends on 5 April each year. The financial year ends on 31 March of each year. Thus, the UK budget for financial year 2021 runs from 1 April 2021 to 31 March 2022 and is often referred to as 2021–22.
Pie chart of UK central government expenditure, 2009–10.Social Protection is shown in orange, health in red, education in grey, and personal services in light blue. The welfare state represents around two-thirds of total government spending.
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For example, if a 4% increase is needed to cover inflation, the same cash increase which provides a 4% increase for England may translate into an increase of only 3% of Scotland's budget – after inflation, that would mean a 1% budget reduction for the Scottish Government. [34]