Showing posts with label Economic Data. Electioneering!. Show all posts
Showing posts with label Economic Data. Electioneering!. Show all posts

Monday, 4 November 2019

The real election numbers not being discussed


Here is the formal UK data chart for the share of government spending 5 years ago  - total spending  £743 Billion



And here is the same chart for 2019 - total spending £821 billion ( a 10%  gross increase)




As we can see, as he numbers are so large little really changes. The big and obvious change is that Healthcare spend has gone for 17% of Government spend to 20%. Pensions have edged up a little and this offsets welfare that is down a little. Education spend remains the same over the 5 years.

The long term trend is for healthcare, pensions and welfare to increase, since 2010 they have eaten up another 5% of annual government spend. Meanwhile Education has dropped from 13% to 11% and been held there.

For an election campaign, I would have zero sympathy with the usual Labour NHS stories. The real question is how as a Country will we ever stop the ongoing march of government spending on Healthcare (hint; we need more additional private provision). I have more sympathy with the teachers as school spending has been held down and also welfare spend has had a tiny squeeze - but remains a big spend item considering the economy has generated near full employment.

It is always interesting that no parties ever frame their offer in practical terms about what they would do, how they would grow or shrink this pie and also how they would make changes to the allocations.