5 reasons why the NHS is affordable?
The NHS is experiencing the most austere period of funding in its history. Yes more money is going in every year, but the average rise between since 2010-2021 is around 1% in real terms and the lowest period of funding since the NHS began.
The Guardian reported Britain’s spending on its health service is falling by international standards and, by 2020, will be £43bn less a year than the average spent by its European neighbours, according to research by the King’s Fund. And is now a lowly 13th out of the original 15 EU.
Other countries are experiencing the same rise in health costs but are choosing to respond by spending more of their GDP on health, whilst the UK will spend less. Currently 7.3% of GDP, health spending will fall as a % of GDP under the plan of all 3 main political parties.
Economists have made projections about how healthcare cost will rise over the coming decades. These take into account factors like the changes in population, advancing technology and the cost of staffing. The Office of Budgetary Responsibility (OBR) and the Health Foundation agree that NHS cost are likely to rise at 4-4.5% a year up to 2030.
Since it began in 1948 the NHS has received average rises in funding of just under 4%. Therefore the projections about what funding the NHS needs are not out of keeping with the levels of investment it has received in the past, which supports its sustainability as long as public support remains.