Overview

This bill, the NHS Funding Act 2020, sets a minimum funding level for the English National Health Service (NHS) for the financial years ending March 2021 to March 2024. It ensures sufficient funding is allocated and used appropriately.

Description

The act mandates specific minimum funding amounts for the NHS in England for each financial year until 2024. These amounts are legally binding on the Secretary of State for Health and Social Care and the Treasury. The figures are as follows:

• 2021: £127,007,000,000
• 2022: £133,283,000,000
• 2023: £139,990,000,000
• 2024: £148,467,000,000

The bill specifies that these funds must be used as revenue, and the Treasury must align its estimates with these amounts. The Act extends to England and Wales and expires on 31 March 2024.

Government Spending

The bill commits the UK government to a total minimum expenditure of approximately £550 billion on the NHS in England between 2021 and 2024. This represents a significant increase in funding compared to previous years, although the exact yearly increases will need to be analysed in context of other government spending.

Groups Affected

• NHS in England: Directly benefits from the guaranteed minimum funding, enabling service provision and potentially improvements.
• Patients in England: Potentially benefit from improved NHS services resulting from increased funding.
• Taxpayers: May indirectly be affected through increased taxation to cover the increased NHS funding.
• Treasury: Bound to allocate funding according to the stipulations of the bill.

Powered by nyModel