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The brackets say it all, '(including NHS and private care)'. The reason the UK lags behind the other 'G7 counterparts' is not the small public spend, but the tiny private spend on healthcare. The top ten European healthcare systems are all insurance-based, which encourages additional funding streams into healthcare. The NHS has archaic anti-competitive rules that prevent private investment.
Using the metaphor of the tanker and the iceberg, it would be much more sensible to have more, smaller, agile vessels that could chart a safe path through the dangerous waters. The worst strategy would be to wait in vain for the rescue boats that never come!