Labour Government's Spending Projected to Reach Record Highs

Keir Starmer's Labour government is projected to spend a significant amount of money by 2029. This will make him the second highest spending Prime Minister since World War II.

The analysis reveals that the government is expected to spend an average of 45% of GDP per year. This is only slightly behind Boris Johnson's 45.4% of GDP. However, Johnson's numbers are distorted by the pandemic years.

By the end of the parliament, real terms public spending will be more than double what it was at the turn of the millennium. This means that by 2029-30, public spending per household is set to reach £45,184, up from £43,670 in 2024-25.

The TaxPayers' Alliance has expressed concern about the government's spending plans. They believe that the talk of spending cuts in the upcoming spring statement is not enough. They argue that the government must do more to reduce spending and encourage economic growth.

The Adam Smith Institute has also expressed concern about the government's spending plans. They believe that the rate at which the UK's national debt is increasing is unsustainable. They argue that the government must radically deregulate the economy, abolish wasteful QUANGOs, cut the welfare bill, and encourage more wealth-creators to come to the UK.