Theresa May has announced that the Conservative government will deliver a £20bn annual boost to NHS funding.
The funding will come in the form of a 3.4% yearly increase in funding through to 2023. The boost is described by May as a 70th ‘birthday present’ for the institution. The money comes in part from what is described as a ‘Brexit dividend’ as the UK ends its budget contributions to the EU.
However, the Prime Minister also hinted at tax rises to finance the new spending, which covers only NHS England and does not include other bodies which are part of the health budget.
The current NHS budget is £114bn. Many claim throwing more money at the system without significant reforms first will simply lead to more waste. Indeed, the NHS currently spends millions on management positions, including diversity managers and publicity-related positions.
Health Secretary Jeremy Hunt has praised the increase in funding.