• Privacy policy
  • T&C’s
  • About Us
    • FAQ
    • Meet the Team
  • Contact us
TLE ONLINE SHOP!
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
SUPPORT THE LONDON ECONOMIC
NEWSLETTER
  • TLE
  • News
  • Politics
  • Business
  • Sport
  • Opinion
  • Elevenses
  • Entertainment
    • All Entertainment
    • Film
    • Lifestyle
      • Horoscopes
    • Lottery Results
      • Lotto
      • Thunderball
      • Set For Life
      • EuroMillions
  • Food
    • All Food
    • Recipes
  • Property
  • Travel
  • Tech/Auto
  • JOBS
No Result
View All Result
The London Economic
No Result
View All Result
Home News

The gaping hole in the budget: No £350 a week for the NHS

A spending frenzy budget that omitted one of the biggest campaign promises of the referendum.

Jack Peat by Jack Peat
2020-03-12 13:30
in News
Rich Sunak
FacebookTwitterLinkedinEmailWhatsapp

Amid the spending frenzy that was the Spring Budget there was one gaping omission; no £350 million a week for the NHS.

As the health service prepares to battle a pandemic the Treasury was forced to confirm that it will not be getting the cash promised during the referendum.

Chancellor Rishi Sunak announced just £6 million extra for the NHS to cope with the escalating coronavirus crisis.

And he will hike the immigration surcharge to £624 per year for an adult, a move branded “shameful” by SNP MP Stewart McDonald who said it typified the hostile environment the Tories are trying to create.

Few upsides

Indeed, there were few upsides from leaving the EU in the budget.

Britain is expected to be overall poorer by £1,200 per person because of Brexit’s economic drag, according to the government’s spending watchdog.

The chancellor’s red budget book shows the gross EU contributions saved by the UK will be around £42 billion over the next five years, rather than the £91 billion claimed under the false figure publicised by Boris Johnson in 2016.

RelatedPosts

No airport chaos for him! PM flew back from family trip to Cornwall on ministerial jet

Woman allegedly raped by 14-year-old boy – in popular Manchester club

‘Tax all childless adults!’ – UK expert’s unhinged proposals spark backlash

Watch: 80 firefighters tackling blaze at 17-storey block of flats in London

But the money is not expected to benefit the public finances as the majority needs to be spent on British domestic replacements for EU programmes.

Office for Budget Responsibility

It comes as the government’s own Office for Budget Responsibility (OBR) puts the cost to the British economy of Brexit so far at around 2 per cent of GDP a year, or about £40 billion.

“We estimate that the economic effects of the referendum vote have so far reduced potential output by around 2 per cent, relative to what would have happened in its absence,” the OBR said in its analysis released alongside the budget.

“Part of this reflects lower net inward migration, but mostly it reflects weaker productivity growth on the back of depressed business investment and the diversion of resources from production towards preparing for potential Brexit outcomes.”

Related: Government is “playing roulette with the public” as UK coronavirus cases hit 456

Since you are here

Since you are here, we wanted to ask for your help.

Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.

Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.

If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.

To donate or subscribe to The London Economic, click here.

The TLE shop is also now open, with all profits going to supporting our work.

The shop can be found here.

You can also SUBSCRIBE TO OUR NEWSLETTER .

Subscribe to our Newsletter

View our  Privacy Policy and Terms & Conditions

Trending on TLE

  • All
  • trending
Abdollah

‘Rescue us’: Afghan teacher begs UK to help him escape Taliban

CHOMSKY: “If Corbyn had been elected, Britain would be pursuing a much more sane course”

What If We Got Rid Of Prisons?

More from TLE

This Airbus is currently drawing a giant Christmas tree in the sky over Germany

Statue of first female MP to sit in Parliament vandalised with Nazi graffiti

Woman captures a stunning image of a fogbow

Four endangered tiger cubs have taken their first steps outside a British zoo

‘We only win when we are together’ – Arsenal star as Emery stays silent

Trump gives London response, and then this happens

Le Ziz – Review

Nadine Dorries lampooned for trying to gaslight PM’s critics

Julian Assange supporters hold vigils to mark arrest anniversary

Paddy Ashdown diagnosed with bladder cancer

JOBS

FIND MORE JOBS

About Us

TheLondonEconomic.com – Open, accessible and accountable news, sport, culture and lifestyle.

Read more

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.




No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Entertainment
  • Lifestyle
  • Food
  • Travel
  • JOBS
  • More…
    • Elevenses
    • Opinion
    • Property
    • Tech & Auto
  • About Us
    • Meet the Team
    • Privacy policy
  • Contact us

© 2019 thelondoneconomic.com - TLE, International House, 24 Holborn Viaduct, London EC1A 2BN. All Rights Reserved.