2002 United Kingdom budget
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.
| 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 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.
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