What does the UK government spend the most money on?

In 2020, the expenditure of the UK government is expected to be around £928 billion. The highest-spending sector is expected to be social protection, with £285 billion, including pensions and welfare benefits. Government spending on health is expected to be the second-highest, with £178 billion.

What does most of our public spending go on funding?

Two-thirds of spending is on public services. The total amount of money that the government spends each year is called total managed expenditure (TME). The remainder can be split into government investment (around 5\% of the total) and (net) interest costs on government debt (around 3\% of the total).

Where does most government spending go?

Generally, a majority of the discretionary spending is budgeted towards national defense. The rest of discretionary spending is budgeted to other federal agency programs ranging from transportation, education, housing, social service programs, as well as science and environmental organizations.

What is the largest spending category for most local governments?

Local spending averages report that the largest spending category is education at 35\%, followed by 20\% listed as “other spending”. At the local level (counties, municipalities, townships, school districts, special districts) the largest category is for public education at the elementary and secondary levels.

Which country does the UK trade most with?

United States
List of the largest trading partners of United Kingdom

What is the UK’s biggest industry today?

The 10 Biggest Industries by Revenue in the UK

• Supermarkets in the UK. $189.9B.
• Pension Funding in the UK. $155.9B.
• Construction Contractors in the UK. $121.8B.
• Hospitals in the UK. $101.0B.
• Banks in the UK. $99.8B.
• New Car & Light Motor Vehicle Dealers in the UK. $98.4B.
• General Insurance in the UK.
• Management Consultants in the UK.

What government has the most money?

List

Where do government funds come from?

The major classes of tax revenue are: a) taxes on income and profits; b) taxes on property; c) taxes on domestic goods and services; d) taxes on international trade and transactions; and e) other sources.