The October 2024 Budget and the NHS
In her October 2024 budget, Chancellor Rachel Reeves has allocated substantial funds and reforms for the NHS which Chawton Hill welcome. Her inaugural announcement focuses on reducing wait times and improving efficiency. It also aims to address staffing needs.
The NHS will see funding to support approximately 40,000 additional weekly appointments. This expansion seeks to significantly reduce the backlog, with around 7.6 million people awaiting treatment. The budget prioritises making reductions in waiting lists in the first year of Labour’s term, targeting the most visible issues in the NHS.
More importantly, Reeves has committed to modernising the NHS. As part of this, the government will be investing in infrastructure and equipment. This suggests funding may be available for much needed refurbishment and development projects. Plans include diagnostic tools like scanners, and new surgical hubs for routine operations. The knock-on of this extra funding and commitment is almost certain to require investment in facilities and estates.
Reinvigorating Services
The budget allocations reflect the government’s commitment to reinvigorate public services. There’s an emphasis on healthcare accessibility and effectiveness – undoubtedly a welcome move. There are, of course, tax adjustments and a re-evaluation of national fiscal policies to enable change. But Reeves has maintained that these changes will not impact income tax rates for working individuals.
We look forward to seeing what the changes will bring for the NHS and the improvements that should go with them. It is to be hoped that the much-needed investment will allow for enhancements in assets and estates across the healthcare sector.
We look forward to working with our partners and clients across the sector to help deliver those improvements. If you have a healthcare project that needs management or delivery support, contact us today.