NHS funding plan: what's in store?

Just before the NHS’s 70th birthday, Jeremy Hunt, ex-Secretary of State for Health and Social Care delivered an oral statement to the House of Commons on the announcement of a new long-term funding plan for the NHS. 

As our email earlier this year reported, public dissatisfaction with the NHS increased by seven percentage points last year and dissatisfaction with social care services increased by six points to 41%. Perhaps this funding announcement is timely to reassure the concerns of the public.

In Jeremy Hunt’s statement he refers to his close work with the Prime Minister and Chancellor, which as a result concluded that the NHS will receive an increase of £20.5 billion a year in real terms by 2023 to 2024.

With health spending having grown by 3.7% each year over the last 70 years (source: NHSConfed), the funding news will be well received by many. The increased funding will support a new 10 year long-term plan with the aim to ‘regain core performance and lay the foundations for service improvements’ (source: gov.uk).

what made this funding possible?

The government's choice to significantly invest suggests that it is increasingly confident in protecting the future of the NHS in Brexit dealings. It was also explained that part of the additional funds will be derived from no longer funding the European Union annual membership subscription, as well as tax contributions.

what does this mean for you as an employer?

Whilst the government have already mentioned transforming cancer care, better access to mental health services and better integration of health and social care as a few of the priorities for this funding to be able to support, the next step will be for the NHS to come up with a plan with more specific details. This may reveal more when it comes to how this can impact you and your team directly.

The King's Fund have outlined one of the challenges to these plans to be the workforce. With 70% of the health budget going on staff, the workforce will need to be core to any future planning. At Randstad, we want to make it simpler for you to plan your workforce requirements and be able to fill vacancies quickly and efficiently. If you have a vacancy we can assist with, please get in touch.

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