How the NHS budget has changed over time
When the NHS first began back in 1948, it had a budget of £427 million - which, allowing for inflation, is equal to around £15 billion today. However, in the last few decades, this budget has spiralled to around £124 billion. And whilst funding continues to grow, the NHS never seems to have enough funding to cover its huge growth in costs since its inception 70 years ago.
The NHS never fails to be top of the priority list whenever there’s a general election or a big budget announcement, but despite all the headlines, in reality, few people fully understand how the NHS is really funded, and what on earth politicians mean when they talk about mandate budgets, user changes and growth percentage.