NHS Funding Protected Under Spring Budget Measures
Extension of COVID-19 Support
The Spring Budget introduced measures to extend support for the NHS in England, ensuring that funding levels will be maintained in real terms in 2024-25.
Chancellor of the Exchequer, Rishi Sunak, announced in his budget speech to Parliament on Wednesday, March 6, 2024, that the Additional Restrictions Grant (ARG), a COVID-19 support fund, will be extended by six months to September 2024.
Increased Funding for Health Services
In addition to extending the ARG, the government announced additional funding for key health services, including:
- £4 billion for the elective care backlog
- £2 billion for social care
- £1 billion for mental health services
These measures aim to address the challenges faced by the NHS due to the pandemic and ensure that essential healthcare services continue to be provided.
Economic Forecasts and the Finance Bill
The budget also included economic forecasts by the Office for Budget Responsibility (OBR), which projected that the economy would recover from the pandemic and return to growth in 2024.
The Finance (No. 2) Act 2024, introduced on March 12, 2024, implements the measures announced in the Spring Budget and follows the 2024 Budget.
Komentar