Post-Covid government spending will be at the highest levels since the 1980s

Total managed expenditure as a share of GDP

60%

50

40

30

20

10

WW1 and

Spanish flu

WW2

Covid-19

0

1900-01

1940-41

1980-81

2020-21*

60%

50

40

30

20

10

WW1 and

Spanish flu

WW2

Covid-19

0

1900-01

1940-41

1980-81

2020-21*