Nerdy Note! What the Govt spends your money on?

Former_MSE_Wendy

A fortnight ago, only one in five people of the over 7,000 who voted for the correct answer in the quiz on what the biggest area of govt. spending was (see vote result). So here’s the real answer.

1. Social Protection (pensions & benefits) £169 bn.
2. Health £111 bn.
3. Education £82 bn.
4. Public order & safety (inc policing) £33 bn.
5. Defence £33 bn.
6. Debt interest £31 bn.
7. Industry, farming, unemployment £22 bn.
8. Transport £21 bn.

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NatFeerick

£169bn on Pensions & benefits? Well it isn't going on Pensions is it.....?

billythehamster

Wow I can't believe the governement spends as much servicing its debt as it does on Defence but I am sure they would call it our debt rather than theirs.

Benefits and Pensions - this is really shocking, we need to provide pensions and benefits for people who can't work through disability or health reasons (genuine health reasons). But if you are fit to work I am afraid the rule - you don't work, you don't eat should apply.

digitalcomponents

MSE_Wendy wrote: »

A fortnight ago, only one in five people of the over 7,000 who voted for the correct answer in the quiz on what the biggest area of govt. spending was (see vote result). So here’s the real answer.

1. Social Protection (pensions & benefits) £169 bn.
2. Health £111 bn.
3. Education £82 bn.
4. Public order & safety (inc policing) £33 bn.
5. Defence £33 bn.
6. Debt interest £31 bn.
7. Industry, farming, unemployment £22 bn.
8. Transport £21 bn.

Click 'post reply' to discuss below.

Want to suggest a Nerdy Money Note...

Got a nerdy money fact you'd like to see in the weekly email? E-mail [EMAIL="nerdynote@moneysavingexpert.com"]Nerdy Notes[/EMAIL]

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Thanks for sharing this nice information.:cool:

Punter

While each person, depending on their status, will agree or disagree with the amounts spent by the Government on each item there can be absolutely no justification for the exceptionally high amount donated by the Government to the Bankers. It is absolutely ludicrous that any Government should have to pay thirty one thousand MILLIONS of pounds in interest to the bankers. Governments around the world have been coerced by the Worlds bankers into allowing them (the bankers) to create money out of thin air and then to lend it not only to Governments but to the people. It's called 'fractional reserve banking', invented by bankers for bankers, it's why they have so much money and the people who create the real wealth (around just 10% of the population in fact) have so little. Don’t for one moment imagine that the Bank of England is controlled by the Government. Google 'fractional reserve banking' and ‘Rothschild’s and the Bank of England’ and see what I mean. Governments should print money, no one else, and then only an amount that is matched by GDP. No more so called 'credit crunches' (whatever that means), no more inflation, no more rich bankers. (Not much chance of it happening any time soon though).

chrisdonny

Well the figures speak for themselves don't they itwould be interesting to see what would be spent on Social Protection (pensions & benefits) if those people who sponge from the state were made to work, don't get me wrong my own mum is disabled and my dad had to leave work to become her full time carer and I have a niece who is mentally handicapped so yes I know that the vast majority of people are genuine but like everything there are a few bad seeds who who are exploiting the system which makes it harder for the genuine ones to claim and also gives all claiments a bad name because too many of us are too quick to tar everyone with the same brush, also how much would be saved if we weren't fighting other countries conflicts? Maybe a bit more could be spent on Public order & safety (inc policing) so good decent honest people could feel safe walking the streets or even answering there own door!

manofmacc

It would be useful to see the 'social protection' amount split into its component parts. As more and more 'baby boomers' (like me) reach retirement, the pensions part is likely to grow and grow, and the govt. has little or no control over this. There is surely far more scope with Benefits........

Neiliboy

Surely the most important question here is How much do the governent raise through taxes???

If the spend above is circa £500billion (which seems rather low to me) surely the taxes they raise must be way higher than this? and if so where is all that money going?

*Gordon Ramsey voice mode on* Can. Worms. Open. Done.

edwardjamesspencer

It would be interesting to see a breakdown of the benefits & pensions figure. How much are we spending on "Government pensions" - including Local Authorities etc?

philoio

I too would be interested to see more detail behind those numbers.

e.g. what does "benefits" include? What does "unemployment" include?

beer_tins

NatFeerick wrote: »

£169bn on Pensions & benefits? Well it isn't going on Pensions is it.....?

Actually, yes. The majority of that amount is spent on pensions...