NHS set for billions in budget as Labour plans major reforms: report
Rachel Reeves has agreed to a funding increase aimed at reducing waiting lists and increasing NHS productivity.
NHS England chief executive Amanda Pritchard admitted that hospital productivity has declined, and long waiting times have eroded public confidence in the NHS. (Photo: Getty Images)
By EasternEyeOct 19, 2024
THE NHS is set to receive a significant cash boost in the upcoming budget, targeting winter pressures and the next financial year.
Chancellor Rachel Reeves has agreed to a funding increase aimed at reducing waiting lists and increasing NHS productivity, according to The Times.
However, NHS leaders are cautious about meeting Labour’s pre-election promise on waiting times, citing rising costs, staff pay, and an ageing population.
NHS England chief executive Amanda Pritchard, writing in The Times, admitted that hospital productivity has declined, and long waiting times have eroded public confidence in the NHS.
The government is planning the "biggest reform" of the health service since its founding in 1948, and Reeves told the cabinet that her budget would focus on "fixing the NHS."
The funding deal has sparked concern in other government departments, as negotiations have centred on a real-term budget increase of 3-4 per cent per year for the NHS, with an estimated cumulative rise of £10 billion annually, though no final figures have been confirmed.
Pritchard acknowledged that NHS productivity took a hit during the pandemic and highlighted the need for modern infrastructure, including buildings and technology, to improve efficiency.
A review by Lord Darzi showed that although the hospital workforce has grown by 17 per cent between 2019 and 2023, the number of surgeries performed by each surgeon dropped by 12 per cent, and A&E doctors or nurses treated 18 per cent fewer patients.
Robert Jenrick, a Tory leadership candidate, criticised Pritchard for not addressing these trends, but Pritchard reaffirmed the NHS's commitment to boosting productivity through better tools for staff. She added that improving productivity does not mean asking staff to do more, but equipping them with the resources they need.
Labour’s ten-year health plan aims to help 2.8 million people with long-term sickness return to work, while also addressing rising demand from an ageing population and long-term illnesses.
The Britain Meets India 2024 report said 667 British companies are already operating in India, generating £47.5 billion in revenue and employing over 516,000 people. (Representational image: iStock)
UK BUSINESSES are increasing their focus on India as a key market following the UK–India Free Trade Agreement (FTA), according to Grant Thornton’s latest International Business Report (IBR).
The report found that 72 per cent of UK firms now see India as a major international growth market, up from 61 per cent last year.
While only 28 per cent currently operate in India, 73 per cent of those without a presence plan to enter the market, including 13 per cent within the next year.
The Britain Meets India 2024 report said 667 British companies are already operating in India, generating £47.5 billion in revenue and employing over 516,000 people.
Among Indian firms, 99 per cent of those already in the UK plan to expand, while nearly 90 per cent of those not yet present intend to set up operations.
Anuj Chande, Partner and Head of South Asia Business Group at Grant Thornton UK, said: “The shift we’re seeing is clear: UK mid-market businesses are no longer asking ‘why India’ — they are asking ‘how soon’.
“With 73 per cent of firms planning to establish operations in India and over half of existing players looking to scale up within a year, this is a pivotal moment. The UK–India FTA is a game-changer, reducing entry barriers and accelerating opportunity, but it won’t remove the complexity of operating in a fragmented and dynamic market.”
Chande added that the recent UK trade delegation accompanying the Prime Minister’s visit has added to the impetus to trade and invest with India.
However, 63 per cent of UK firms cited regulation and foreign exchange controls as the main barriers to operating in India, while 38 per cent mentioned infrastructure gaps. For Indian companies, tariffs, regulation, and the UK’s fragmented regulatory system were the key concerns.
Despite the challenges, 21 per cent of UK businesses said they had no concerns about the FTA and viewed it as wholly beneficial.
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