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We would aim to increase the public spend to about 45% of GDP.
Economics- How much money does the American public spend on prescription drugs each year?
These investments consume a massive share of the public spend in most developing countries, often with disappointing outcomes.
Direct spend on arts, culture, museums and libraries, the report notes, is about 0.3% of the total public spend.
The amount of money given to the arts – 0.3% of the total public spend – is "infinitesimal" compared with what they generate, the report says.
In 2007, the UK's public spend on R&D was 1.8%, while German's was 2.54%, France got to 2.08%, Japan was at 3.44% and the US at 2.68%.
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Public spending.
Public spending on pensions has risen by more than 80%.
Public spending on mitigation could crowd out private investment, or conversely encourage it.
Public spending increased massively.
Public spending rocketed.
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