2002 United Kingdom budget

2002 United Kingdom Budget

Country	United Kingdom
Parliament	53rd
Party	Labour
Chancellor	Gordon Brown
Total revenue	£407 billion‡
Total expenditures	£418 billion‡
Deficit	£11 billion‡
Website	Budget 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. 17 April 2002. Retrieved 19 January 2022.