Written by David Stevenson
Although the defenders of the NHS claim it's free, of course it isn't – the 2007/2008 NHS budget added up to £1,500 for every man, woman and child in Britain. As David Rawcliffe on Adamsmith.org points out, although we know that the NHS is paid for by taxation, with a mix of national insurance contributions, stealth taxes, PAYE and government borrowing, it's all too easy for us to forget how much we actually pay. What's more, much of the money goes on administration. Despite a total payroll of over 1.5 million – worldwide, only the Chinese People's Liberation Army, the Wal-Mart supermarket chain and Indian Railways directly employ more people – less than 50% are clinically qualified. That makes the NHS "a bureaucratic monstrosity", says Tim Worstall, also on Adamsmith.org.
Published on Moneyweek here.