A line chart from the Institute for Government showing spending on NHS hospital trusts, actual and projected, 2009/10–2028/29 (2025/26 prices). Spending rose gradually from £95bn in 2009/10 to £119bn by 2019/20, before a sharp increase during the pandemic period due to additional Covid spending. Growth has since stabilised, reaching £143bn in 2023/24, with the IfG projecting continued real-terms increases to just under £168bn by 2028/29. Acute trust spending, available from 2016/17, follows a similar upward trend, reaching just over £110bn in 2023/24.