Evaluation of the Effectiveness of NHS under the COVID-19 Pandemic

Research Article
Open access

Evaluation of the Effectiveness of NHS under the COVID-19 Pandemic

Yu Jeremy 1*
  • 1 Shanghai Highschool International Division    
  • *corresponding author 631401110130@mails.cqjtu.edu.cn
Published on 10 November 2023 | https://doi.org/10.54254/2754-1169/33/20231626
AEMPS Vol.33
ISSN (Print): 2754-1177
ISSN (Online): 2754-1169
ISBN (Print): 978-1-83558-087-5
ISBN (Online): 978-1-83558-088-2

Abstract

When the COVID-19 pandemic hit the UK in 2020 and brought UK’s economy into recession, the high budget burden of NHS and its insignificance in stimulating the economy make people start to question the effectiveness of the annual high government spending on NHS. This paper uses online databases, basic economic theories, and case studies to evaluate the effectiveness of NHS during the COVID-19 pandemic. After analyzing the pros of cons of high government spending on NHS, the paper gives potential adjustments to the current policy. It is found that the high government spending on NHS had led to a spike in the budget deficit and caused a reduction in potential long-term economic growth and credibility rating. Meanwhile, the impact of the spending as an expansionary policy turns out to be ineffective due to the low multiplier effect under the pandemic. NHS did promote equity but meanwhile brought the overconsumption of medical resources. NHS increases the life expectancy of UK citizens but at a decreasing rate. To reduce the adverse impacts and thus expand the effectiveness of NHS, the paper suggests that the government should shift its focus from the purchase of medical resources to investment in the research and development of healthcare; the government should wait for the MPC to increase in order to achieve a greater multiplier effect or just simply use monetary policy as an alternative; and the government should quickly improve the guidelines for medical treatment and punish those who abuse medical resources.

Keywords:

macroeconomics analysis, NHS, COVID-19 pandemic

Jeremy,Y. (2023). Evaluation of the Effectiveness of NHS under the COVID-19 Pandemic. Advances in Economics, Management and Political Sciences,33,30-38.
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References

[1]. Gov.UK (2023) Coronavirus (COVID-19) in the UK. https://coronavirus.data.gov.uk/details/cases?areaType=overview&areaName=United%20Kingdom

[2]. Statista (2022) Total healthcare expenditure in the United Kingdom from 2000 to 2021. https://www.statista.com/statistics/317669/healthcare-expenditure-in-the-united-kingdom/

[3]. Statista (2022) Total managed expenditure of the government of the United Kingdom from 1981/82 to 2024/25. https://www.statista.com/statistics/298465/government-spending-uk/

[4]. Gov.UK (2022) UK government debt and deficit: September 2022. https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicspending/bulletins/ukgovernmentdebtanddeficitforeurostatmaast/september2021

[5]. Mathew Keep (2023) The budget deficit: A short guide. https://commonslibrary.parliament.uk/research-briefings/sn06167/#What%20Is%20The%20Budget%20Deficit%20and%20How%20Big%20Is%20It?

[6]. Bank of England (2022) Effective interest rates-December 2021. https://edu.bankofengland.co.uk/statistics/effective-interest-rates/2021/december-2021

[7]. Trading Economics (2023) United Kingdom-Credit Rating. https://tradingeconomics.com/united-kingdom/rating

[8]. Robert Atenstaedt, Jayne Gregory, Carole Price-Jones, Jill Newman, Lyn Roberts, Jim Turner (2015) Why do patients with nonurgent conditions present to the Emergency Department despite the availability of alternative services? https://pubmed.ncbi.nlm.nih.gov/25405462/

[9]. Denis Campbell (2014) NHS wastes over £2bn a year on unnecessary or expensive treatments. https://www.theguardian.com/society/2014/nov/05/nhs-wastes-over-2-bn-on-unnecessary-treatment

[10]. Worldometers (2023) Life Expectancy of the World Population. https://www.worldometers.info/demographics/life-expectancy/

[11]. Macrotrend (2023) U.K. Life Expectancy 1950-2023. https://www.macrotrends.net/countries/GBR/united-ki ngdom/life-expectancy

[12]. Statista (2022) Population of the United Kingdom from 1871 to 2021. https://www.statista.com/statistics/281296/uk-population/#:~:text=In%202021%2C%20the%20population%20of%20the%20United%20Kingdom,million%20since%20the%20start%20of%20the%20twenty-first%20century.

[13]. Bank of England (2022) Financial concerns and the marginal propensity to consume in Covid times: evidence from UK survey data. https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2022/financial-concerns-and-the-marginal-propensity-to-consume-in-covid-times.pdf

[14]. Macrotrend (2023) U.K. GDP 1960-2023. https://www.macrotrends.net/countries/GBR/united-kingdom/gdp-gross-domestic-product

Cite this article

Jeremy,Y. (2023). Evaluation of the Effectiveness of NHS under the COVID-19 Pandemic. Advances in Economics, Management and Political Sciences,33,30-38.

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About volume

Volume title: Proceedings of the 7th International Conference on Economic Management and Green Development

ISBN：978-1-83558-087-5(Print) / 978-1-83558-088-2(Online)
Editor：Canh Thien Dang
Conference website: https://www.icemgd.org/
Conference date: 6 August 2023
Series: Advances in Economics, Management and Political Sciences
Volume number: Vol.33
ISSN：2754-1169(Print) / 2754-1177(Online)

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References

[1]. Gov.UK (2023) Coronavirus (COVID-19) in the UK. https://coronavirus.data.gov.uk/details/cases?areaType=overview&areaName=United%20Kingdom

[2]. Statista (2022) Total healthcare expenditure in the United Kingdom from 2000 to 2021. https://www.statista.com/statistics/317669/healthcare-expenditure-in-the-united-kingdom/

[3]. Statista (2022) Total managed expenditure of the government of the United Kingdom from 1981/82 to 2024/25. https://www.statista.com/statistics/298465/government-spending-uk/

[4]. Gov.UK (2022) UK government debt and deficit: September 2022. https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicspending/bulletins/ukgovernmentdebtanddeficitforeurostatmaast/september2021

[5]. Mathew Keep (2023) The budget deficit: A short guide. https://commonslibrary.parliament.uk/research-briefings/sn06167/#What%20Is%20The%20Budget%20Deficit%20and%20How%20Big%20Is%20It?

[6]. Bank of England (2022) Effective interest rates-December 2021. https://edu.bankofengland.co.uk/statistics/effective-interest-rates/2021/december-2021

[7]. Trading Economics (2023) United Kingdom-Credit Rating. https://tradingeconomics.com/united-kingdom/rating

[8]. Robert Atenstaedt, Jayne Gregory, Carole Price-Jones, Jill Newman, Lyn Roberts, Jim Turner (2015) Why do patients with nonurgent conditions present to the Emergency Department despite the availability of alternative services? https://pubmed.ncbi.nlm.nih.gov/25405462/

[9]. Denis Campbell (2014) NHS wastes over £2bn a year on unnecessary or expensive treatments. https://www.theguardian.com/society/2014/nov/05/nhs-wastes-over-2-bn-on-unnecessary-treatment

[10]. Worldometers (2023) Life Expectancy of the World Population. https://www.worldometers.info/demographics/life-expectancy/

[11]. Macrotrend (2023) U.K. Life Expectancy 1950-2023. https://www.macrotrends.net/countries/GBR/united-ki ngdom/life-expectancy

[12]. Statista (2022) Population of the United Kingdom from 1871 to 2021. https://www.statista.com/statistics/281296/uk-population/#:~:text=In%202021%2C%20the%20population%20of%20the%20United%20Kingdom,million%20since%20the%20start%20of%20the%20twenty-first%20century.

[13]. Bank of England (2022) Financial concerns and the marginal propensity to consume in Covid times: evidence from UK survey data. https://www.bankofengland.co.uk/-/media/boe/files/working-paper/2022/financial-concerns-and-the-marginal-propensity-to-consume-in-covid-times.pdf

[14]. Macrotrend (2023) U.K. GDP 1960-2023. https://www.macrotrends.net/countries/GBR/united-kingdom/gdp-gross-domestic-product

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