2002 (2002) United Kingdom Budget
Parliament53rd
PartyLabour
ChancellorGordon Brown
Total revenue£407 billion‡
Total expenditures£418 billion‡
Deficit£11 billion‡
WebsiteBudget 2002
‡Numbers are projections.
‹ 2001
2003›

The 2002 United Kingdom Budget, officially known as The strength to make long-term decisions: Investing in an enterprising, fairer Britain was the formal government budget for the year 2002.[1]

The most significant policy implemented as part of this Budget was the 1% increase in National Insurance contributions for both employees and employers, the proceeds of which went towards an increase in NHS spending.[2]

Details

Tax Revenue

Receipts 2002-03 Revenues (£bn)
Business rates 19
Corporation Tax 33
Council Tax 16
Excise Duties 38
Income Tax 118
NI 65
VAT 64
Other 55
Total Government revenue 408

Spending

Department 2002-03 Expenditure (£bn)
Debt Interest 21
Defense 24
Education 54
Health 65
Housing & Environment 20
Industry, Agriculture, Employment 17
Law & Order 24
Other 49
Personal Social Services 15
Social Security 115
Transport 14
Total Government spending 418

References

  1. ^ "Budget 2002" (PDF). HM Revenue and Customs. Retrieved 3 October 2017.
  2. ^ "Brown unveils tax hike to fund NHS". the Guardian. 2002-04-17. Retrieved 2022-01-19.
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