OBR says NHS will need extra £88bn a year by 2066
How much money will the NHS need in 50 years?
Government will need to raise NHS funding from about £140bn to almost
£230bn over the next 50 years to meet demand for healthcare.
A report by the Office for Budget Responsibility (OBR) says taxes will
need to rise or spending cut to pay for the increasing share of GDP
taken up by healthcare and other public services. The OBR says it sees
this as unsustainable.
OBR puts forward a scenario of 'health spending rises from 6.9% of GDP
in 2021/22 to 12.6% of GDP in 2066/67, rising smoothly as the population
ages and non-demographic cost pressures push spending higher'.
It adds: 'Less challenging demographic trends and a change in our
assumption about morbidity in later life reduce growth in spending, but a
higher starting point and — most importantly — the inclusion of
non-demographic cost pressures, push it up much more.'