Mr Sunak said "Covid's impact on the economy must be paid for - and high levels of borrowing could not go on indefinitely"

Chancellor Rishi Sunak is to announce an extra £3bn for the NHS — but has warned that people will soon see an “economic shock laid bare” as the country deals with the Covid pandemic

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UK:- Chancellor Rishi Sunak will announce an additional £ 3 billion for the NHS - but warns that the country will soon face an "economic shock" as people tackle the Kovid epidemic.

 

Courtesy :- BBC News

  Expenditure review for one-year financing will be announced on Wednesday.

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  But Mr Sunak said there was a price to pay for Covid's impact on the economy - and that high levels of debt could not last indefinitely.

  Borrowing repaid 22 22.3 billion in October, with public sector debt amounting to more than 2 2 trillion.

  The NHS usually gets extra money to increase it in the winter months but with £ 700m in 2014/15 being the highest paid in the last 10 years.

  The £ 3 billion package for the NHS is allocated to address backlogs in healthcare, with thousands of treatment and operation delays due to epidemics, according to Treasury estimates.

  The number of people waiting for treatment a year has risen from about 1,500 in February to 140,000 in September.

  This fund applies only to England but Scotland, Wales and Northern Ireland will receive the same amount of funding.

  The NHS chief executive, Sir Simon Stevens, said the extra cash would reduce the NHS's weight, leading to "a million extra checks, scanning and extracurricular activities."

  “And since Covid does a mental as well as physical damage, it’s especially important that we be able to expand mental healthcare as well,” he said.

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  £ 500m mental health services will be utilized in England.

  One million dollars to reduce NHS backlogs, with one million additional checks, scans and operations provided

  Service £ 1.5bn Healthcare will be used to relieve existing stress and ease

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  However, the Chancellor warned of difficult times in the future.

 

 Speaking on the BBC's Andrew Marr show, he said: "We know that three-quarters of a million people have already tragically lost their jobs.

  "It's not just a chart number, it's people's lives and livelihoods, it's affecting their safety, and it's sad that we're getting connected for a while."

  Earlier, he told the Sunday Times that people would soon see "the level of economic shock only", indicating that the possibility of tax increases and spending could be reduced next year.

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  The Office for National Statistics said government debt peaked in October last month, the highest since the monthly record began in 1993 - a pandemic that is "affecting public health".

  Government debt reached £ 214.9bn - 9 169.1bn a year ago.  Due to budgetary obligations, the office estimates that it could reach 37 2,372.2 billion by the end of the fiscal year in March.

  Paul Johnson, head of the Institute for Financial Institutions, told the BBC he had voted in favor of government spending because it was trying to bring the crisis under control.

  However he acknowledged that their numbers were not enough to defeat the country's growing debt.

  Mr Sunak announced Wednesday that he would fix the salaries of millions of public sector workers in a spending review.

  Frontline NHS personnel are likely to be excluded, but victims are expected to include police, teachers, armed forces and civilians.

  The government, meanwhile, said it intended to remove long-term biases that would affect funding for the north of England and other regions in the south-east and outside London.

 Speaking on Sky News' Sophie Ridge program, Mr Sunak denied that the cost review was a return to the difficult side: "What you see is that government spending on public services will increase on a daily basis.

  He declined to comment on his plans for public sector wages, but said fairness was his priority "in the context of a larger economic climate."

  But Labor's shadow chancellor, Anneliese Dodds, told the BBC's Andrew Marr that any freeze on public sector pay would stop the recovery.

  “What this move will do is reduce the future spending capacity of a firefighter, hospital porter, teaching assistant.

  "That means they won't spend on our high roads, they won't spend on our small businesses, and it's a great way to spread confidence from our economy at a time when the UK's economic downturn has deepened beyond the time it is in the rest of the G7."

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   There is an opportunity to take a long-term view of the review of government expenditure plans

  It also needs to keep in mind how much money will be allocated to different government departments and how much taxpayers will spend.

  Amid the economic uncertainty of the Covid-19 epidemic, the government has cut its long-term massive spending this year and instead next week’s review will only be associated with one fiscal year.

  It is hoped that the country should focus on infrastructure investment in order to help jobs and government services through the crisis, as well as promise to "level" the country's government.