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Where does the NHS budget come from?
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Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
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Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
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#3
(Original post by olizzzz)
Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
The shortfall between government revenues and expenditures will be funded by debt, the vast majority of which will be bought up by pension funds, both national and international, and also insurance companies and banks.
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(Original post by FDR)
Last year (2013), government revenues in total amounted to £612 bn - this came from, things like income tax (£155 bn), VAT (£103 bn), National Insurance (£107bn), etc - the entire breakdown of revenues and expenditures is available here
The shortfall between government revenues and expenditures will be funded by debt, the vast majority of which will be bought up by pension funds, both national and international, and also insurance companies and banks.
Last year (2013), government revenues in total amounted to £612 bn - this came from, things like income tax (£155 bn), VAT (£103 bn), National Insurance (£107bn), etc - the entire breakdown of revenues and expenditures is available here
The shortfall between government revenues and expenditures will be funded by debt, the vast majority of which will be bought up by pension funds, both national and international, and also insurance companies and banks.
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#5
(Original post by olizzzz)
Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
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#6
The NHS also receives some revenue from things like prescription and dental charges, on top of the funding received from taxation.
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(Original post by Heliosphan)
Simply that there are other ways of raising tax revenue. You pay tax everytime you buy something or fill your car up for instance.
Simply that there are other ways of raising tax revenue. You pay tax everytime you buy something or fill your car up for instance.
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#8
(Original post by olizzzz)
So in fact we pay £109bn divided by 30mil people = £3500 each or so per year?
So in fact we pay £109bn divided by 30mil people = £3500 each or so per year?
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(Original post by SmallTownGirl)
The few very rich will pay a significant amount more than the many very poor.
The few very rich will pay a significant amount more than the many very poor.
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#11
You also have state-owned companies, export and importation taxes, finance from investment, yada yada.
As banks show, it's possible to make money using money, our government isn't just a massive collection and distribution agency for the population's taxes
As banks show, it's possible to make money using money, our government isn't just a massive collection and distribution agency for the population's taxes
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#14
(Original post by olizzzz)
Thanks! I don't really understand your answer though - do pension funds mean normal people pay towards the £70bn deficit?
Thanks! I don't really understand your answer though - do pension funds mean normal people pay towards the £70bn deficit?
People will contribute to their pension scheme by saving some money every year, which goes towards their pension.
This money will usually be put into a pension fund rather than simply put in a personal bank account etc. The pension fund will want to get a better return on this money for its contributors (i.e the people who are saving their money), so it will lend the government money for a certain amount of time (usually 10 years), and in return it'll get an annual interest rate (currently about 2.5%).
So for example, in one year if the government wants to borrow £100bn, to be paid back in 10 years, British pension funds may lend the government £20 bn, German funds may lends £5 bn, Chinese funds may lend £2bn etc and in return for lending money now, they'll get paid interest until they get their money back in 10 years. B
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#15
(Original post by olizzzz)
Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
Hi
So the NHS budget is £109bn this year.
And presumably all of this comes from taxation?
So the average mean salary in the UK is £29,000
So the mean contribution per tax paying person is £1235
There are 30m tax payers in the UK
- these are all from online calculators/etc
so 30m people paying £1235 each = £37bn for the NHS
So where does the rest of the £109bn come from?
VAT
Income tax
National Insurace
Council tax
Some other rates as well I think
Where did you get this £1235 figure from? The first three will make up the majority of NHS funding (and other state expenditures).
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#16
(Original post by olizzzz)
Even though the mean salary is £30k? Not the median salary.
Even though the mean salary is £30k? Not the median salary.
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#17
(Original post by AlphaNick)
doesnt happen because hyperinflation
doesnt happen because hyperinflation
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(Original post by lerjj)
Forms of taxation:
VAT
Income tax
National Insurace
Council tax
Some other rates as well I think
Where did you get this £1235 figure from? The first three will make up the majority of NHS funding (and other state expenditures).
Forms of taxation:
VAT
Income tax
National Insurace
Council tax
Some other rates as well I think
Where did you get this £1235 figure from? The first three will make up the majority of NHS funding (and other state expenditures).
£30k being the mean salary in the UK
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#20
How does that fund the NHS?
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