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2002 United Kingdom budget
From Wikipedia, the free encyclopedia
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]
Quick Facts Parliament, Party ...
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Parliament | 53rd |
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Party | Labour |
Chancellor | Gordon Brown |
Total revenue | £407 billion‡ |
Total expenditures | £418 billion‡ |
Deficit | £11 billion‡ |
Website | Budget 2002 |
‡Numbers are projections.
‹ 2001 2003› |
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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]