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I recently came across an interesting website : http://www.ukpublicspending.co.uk .  I've summarised and commented on some of the data here.

 201320001990198019701960195019451940
Health care181512111010725
Education1313121213121239
Defence6812131319167430
Interest77911101113817
Police555432213
Transport333599727
Pensions211915121091027
Welfare1717141298927












Pension and Welfare data seemed to be combined before 1990, so I split them equally. I'm not sure whether thats right, but I didn't want to join them.

 

A few thoughts

Defence 

This makes sense, you can see the big bubble in 1945, and its always good to validate your data.  Generally spending on Defence has dropped from (say 20% down to 6%).  I'm generally happy with this with our place in the world order, but you never know!

Education

This has gone up slightly from 12% to 13%.  Personally, I'm all for spending on Education (having been a teacher).

Police

This has gone up slightly from 3% to 5%.  I suspect some of this is the general cost of technology and probably makes sense to me.  I'm generally happy!

Transport

There was heavy road building in the 50s and 60s and I suppose thats why this has gone from 9% to 3%.  I'm generally comfortable, I like the investment that has gone into the Tube and Railways recently but this has generally funded by PPP.

Healthcare

This has more than doubled from 7% to 18%.  This makes perfect sense as people live longer and medicine advances.  It is clear it could keep growing.

Welfare

This has doubled from 9% to 17%.  I have a BIG problem with this (wink) 

Interest

This was the big surprise for me.  Basically this is pretty low in historical terms.  


Ken explained this to me. The issue is Interest Rates are currently very low. The question is Debt/GDP. http://en.wikipedia.org/wiki/List_of_countries_by_public_debt . UK is 85%, US is 90%, China 26%, Germany is 70%, France is 86%, UAE is -26! Keeping those rates low means the Interest is low. If there is another crash things become unstable.


 

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2 Comments

  1. Unknown User (userone)

    I think that people have such short memories when it comes to interest rates, I suspect that in the next decade we will see interest rates back up to nearly double figures. I have been explaining to friends that they need to prepare for higher interest rates in the next five possibly getting to around 6%

    1. Yup, I completely agree, tho it could go even higher.  Remember it hit 18% in 1980!