HM\u00a0Government expenditure comes from our taxation and borrowings. How is this money spent ?<\/p>\n
HM\u00a0Government collects about \u00a3580 Billion<\/strong> in Taxation and has to borrow a further \u00a3120 Billion<\/strong> on the global banking and financial markets<\/strong><\/em> (the Bond Market). We are running a deficit, spending more than we earn.<\/p>\n With this approximate \u00a3700 Billion<\/strong>, where does the cash go ? Here are the rough numbers:-<\/p>\n \u00a3202<\/strong><\/em> Billion Benefits and Pensions<\/strong><\/em> Total government spending \u00a3698 Billion.<\/p>\n \u00a342 Billion<\/strong> on Debt Interest<\/strong>, this is the interest HM Government has to pay on the bonds (Gilts) issued to fund the deficit. We spend more on our interest repayments, than we spend on defence. What is worrying is that with an aging population, the cost of pensions and healthcare are going to rocket. Looking after our elderly families is essential, and our\u00a0retired population of about 12 million<\/strong> deserve decent pensions. However when debt interest payments on the ballooning debt mountain are non-trivial at \u00a342 Billion<\/strong>, cutting the welfare, state pension and health budgets is simply too easy for governments. We need underlying investment assets to pay decent pensions for our retired citizens.<\/p>\n","protected":false},"excerpt":{"rendered":" HM\u00a0Government expenditure comes from our taxation and borrowings. How is this money spent ? HM\u00a0Government collects about \u00a3580 Billion in Taxation and has to borrow a further \u00a3120 Billion on the global banking and financial markets (the Bond Market). We are running a deficit, spending more than we earn. With this approximate \u00a3700 Billion, where […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-302","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=302"}],"version-history":[{"count":4,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/302\/revisions"}],"predecessor-version":[{"id":400,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=\/wp\/v2\/posts\/302\/revisions\/400"}],"wp:attachment":[{"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.asadkarim.co.uk\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\n\u00a3202<\/strong><\/em> Billion Health<\/strong><\/em>
\n\u00a369\u00a0 Billion Education
\n\u00a342\u00a0 Billion Debt interest<\/strong><\/span>
\n\u00a336\u00a0 Billion Defence
\n\u00a330\u00a0 Billion Local government
\n\u00a326\u00a0 Billion Scotland
\n\u00a319\u00a0 Billion Law and Order
\n\u00a314\u00a0 Billion Wales
\n\u00a310\u00a0 Billion Northern Ireland
\n\u00a38\u00a0\u00a0 Billion EU contributions
\n\u00a37\u00a0\u00a0 Billion Transport
\n\u00a36\u00a0\u00a0 Billion International aid
\n\u00a3125 Billion Other departments<\/p>\n