![]() ![]() ![]() If you like our visual.ONS content and would like to see more, please sign up to our email alerts, selecting 'stories and infographics' under preferences. This number has increased by 3.3% compared with a year earlier. but they make up much smaller portions of federal revenue. Around £2.2 billion goes to the unemployed.Īs for unemployed people claiming Jobseeker's Allowance or Universal Credit, there were 804,100 people claiming these benefits in September 2017. Taxes are by far the largest source of income. The National Association of State Budget Officers (NASBO) estimates that in fiscal year 2020. This chart shows how President Obama proposed allocating 4.1 trillion in total federal spending in fiscal year 2016, an increase of more than 5 percent over the total 2015 spending level. This includes benefits such as Child Benefit and support for people on low income. Over £46 billion goes on family benefits, income support and tax credits. How much do we spend on working age people? About £44 billion goes on benefits for people who are ill or disabled, while £10 billion goes on elderly care payments. How much do we spend on care?Īround £30 billion is spent on personal social services. To find out how long your pension pot might need to last, check out our interactive here. of the OECD, but that do report comparable statistics, are also included in this graph. The remaining life expectancy for someone aged 65 years, in 2016, is 21 years for a man and 24 years for a woman. In the US, public spending as a share of GDP was 10.5 in 1941. This isn’t surprising as life expectancy has been steadily increasing, so State Pensions are being claimed for longer. Total pension spending has increased by 9% since the financial year ending 2013. ![]() Welfare covers a number of benefits, and many people don’t realise that the largest amount is actually spent on pensions at £111 billion. Download the full data How much do we spend on welfare for retired people? ![]()
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