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Yeah which is why the NHS was better under labour, because it was constantly more than 4% above inflation.
A big part of the killer though is the second part. Yeah the overall budget was (barely) above inflation, but the wage cap was often below inflation. During the time Labour were in power the amount of nurses went up by around 80,000. Since the Tories took power over 200,000 have quit. We can only imagine how many fewer would have left if it weren't for the 1% pay cap and Brexit.