NHS to enjoy £38 in every £100 spent by the Government in five years due to Hammond’s Budget cash injection
The Chancellor's recent Budget has brought some good news for the NHS as they will receive 38p of every £1 spent by the Government by 2023
PHILIP Hammond’s Budget cash injection means the NHS will get 38p of every £1 spent by the Government in five years.
The shock figure emerged yesterday and is up from 23p in 2000.
After scrutinising smallprint, the Institute for Fiscal Studies think-tank also warned higher taxes would be needed to keep up with rising demand.
IFS boss Paul Johnson said the huge sums would likely spark further calls for the 70-year-old NHS model to undergo reform. Hospitals and GPs took £83billion of the Chancellor’s total £103billion splurge unveiled on Monday.
The IFS called the giveaway “a bit of a gamble”.
It said there is a one in three chance state coffers will “deteriorate significantly” next year because of uncertainty over Brexit — and that would put Mr Hammond’s income tax cuts for 32million workers at risk.
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In another blow for the Government, Theresa May was forced to row back on her party conference declaration three weeks ago that “austerity is over”.
Instead she repeated the Chancellor’s more cautious phrase that “austerity is coming to an end”.
BET REBELS
TORY MPs may derail the Budget over delays in lowering maximum stakes placed on fixed-odds betting terminals.
A reduction in max stakes from £100 to £2 to tackle problem gambling will now be next October — six months later — to protect 40,000 industry jobs.
Ex-Tory leader Iain Duncan Smith said he had enough MPs’ backing to rebel.