Sep 1, 2024 2:00 PM
A Day 2 economics discussion puts UK public spending at £1.3tn — £44,000 per family — and 44% of GDP, versus roughly 10% at the country's historic peak.
A Day 2 economics discussion puts UK public spending at £1.3tn — £44,000 per family — and 44% of GDP, versus roughly 10% at the country's historic peak.
Inspired by early Trump-administration DOGE talk of cutting fraud, waste and abuse, CPAC UK speakers asked whether Britain gets value for a state that spends £1.3 trillion a year.
One panellist broke it down as £44,000 per family and contrasted today's state at 44% of GDP with roughly 10% when the country was "at its zenith." The complaint was not anarchism but performance: secondary health and education outcomes and a diminished Royal Navy despite the tax take.
“The British state spends 1.3 trillion a year… 44,000 pounds for every family in the country… When this country was at its zenith, the state was 10% of GDP… It's 44% of GDP today.”
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