2002 United Kingdom budget

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2002 (2002) United Kingdom Budget
Royal Coat of Arms of the United Kingdom (HM Government).svg
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]

Contents

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

Receipts2002-03 Revenues (£bn)
Business rates19
Corporation Tax33
Council Tax16
Excise Duties38
Income Tax118
NI65
VAT64
Other55
Total Government revenue408

Spending

Department2002-03 Expenditure (£bn)
Debt Interest21
Defense24
Education54
Health65
Housing & Environment20
Industry, Agriculture, Employment17
Law & Order24
Other49
Personal Social Services15
Social Security115
Transport14
Total Government spending418

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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.