Estimated income for 2022/23 is £987.5 billion, with estimated expenditure for the same period of £1,087 billion. Making an estimated deficit in this period of £99 billion.
Estimated to cost £250.3 billion in 2022-23. 54% of these are paid to pensioners, with state pensions the largest item at an expected £110.6 billion. The costs of state pension because people are living longer which increases the number of claimants and the triple-lock increases the amount.
Day-to-day running costs of NHS public services, grants and administration estimated to be £167.9 billion in 2022-23.
Estimated that public sector net debt will hit around £2.5 trillion in 2022-23. Interest payments on the national debt are expected to cost £87.2 billion in 2022-23.
A few random stats
I haven’t found a place for these important stats yet, although alot of government spending isn’t secret, it’s not always easy to find
The UK aid budget is around £11bn, with about £4bn going to multilateral institutions including the World Bank. Of the remaining £7bn, which is administered by the UK directly, more than half will be spent domestically in 2022, including about £3bn on housing refugees, according to CGD’s analysis.
Estimates there are between 500,000 and 1.2million in the UK. The Office for National Statistics estimated that 2.4 million non-EU citizens were living in the UK, of which only 1.5 million had some form of legal residency, leaving 900,000 without legal right to be here. The reality is no one really knows how many there are. Illegal immigrants normally find it impossible to exploit the welfare system as they are undocumented. If they try, they risk deportation. There are currently more than 37,000 asylum seekers in hotels costing the UK taxpayer £5.6million a day.
There isn’t a big pot of cash to pay the state pension. Instead, it is funded by income tax and NI contributions from today’s workforce. In 2016, there were 305 people of pension age for every 1,000 people of working age. It’s estimated that by 2042, the same number of workers will have to support 367 pensioners, and the figure will continue to climb after that.
In the tax year 2021/22 HMRC tax receipts for the United Kingdom amounted to approximately £718.22 billion