By Aishani Balakumar
The costs of the NHS have consistently risen over the past decade due to the ageing UK population and the increasing demand for various medicines and treatments. To this day, many people in the UK struggle to afford medicines, treatments, and NHS appointments due to the high costs charged by the NHS. This article will explore what may happen to NHS costs in the future and how we can prepare for these changes. However, before doing so, we must first examine NHS costs in recent years in more detail.
The NHS in the Past
According to the King’s Fund, between 2022 and 2023, the Department of Health and Social Care spent £182 billion to fund various health and care services, including ambulance services, mental health support, GP services, and more. During these years, approximate health spending per person was £3,300 in England and Scotland, £3,600 in Wales, and £3,500 in Northern Ireland, according to statistics from the BBC. Additionally, the NHS is currently aiming to increase its total budget to £192 billion, representing an increase of £1.1 billion for 2023/2024.
The chart below shows healthcare spending as a percentage of GDP in 2022:
OECD (2018). OECD Data Explorer. [online] Oecd.org. Available at: https://data-explorer.oecd.org/vis?lc=en&df.
This chart from the OECD indicates that the United States spent the highest percentage of GDP on healthcare (14.1%), while Italy spent the least (6.83%).
NHS Costs in the Future
The Office for Budget Responsibility (OBR) predicts that public healthcare spending will increase by approximately 1% of GDP every decade from now onwards. However, according to the BBC, this will also depend on the long-term growth rate of the economy, meaning this prediction is not yet certain.