Budget 2010: Check out UK government spending plans for 2010/11
The UK government's £704 billion budget for 2010/11 will be spread amongst many different areas of the UK economy but there are some striking issues which will need to be addressed in the short to medium term. So where exactly will your money be spent?
By far and away the largest expenditure will be on Social Security which is expected to cost £196 billion, health is not far behind on £122 billion, education at £89 billion is also significant but here is where the problems start to appear. Defence spending at £40 billion, public order spending £36 billion, personal social services at £33 billion, housing and environment at £27 billion, transport at £22 billion and industry, agriculture and employment at £20 billion are all dwarfed by the interest on national debt which will hit £43 billion next year!
There is an additional £74 billion to be spent which will be spread amongst many different areas of the UK economy and the UK public sector. However, it is the £43 billion in debt interest which is starting to concern many investors around the world and the fact that we saw the Portuguese national debt rating reduced yesterday is a concern for the UK authorities.
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