Govts spend more each year on fossil fuel subsidies than healthcare

Posted on 20 May 2015 by Aiden Burgess
According to the IMF, more money is spent on fossil fuel subsidies by governments around the world than is spent on healthcare - image courtesy of DFC.

According to IMF report

Governments around the world spend more each year on fossil fuel subsidies than they do on health care.

That’s the startling new revelation made by the International Monetary Fund (IMF) this week, in which it estimates the world’s fossil fuel companies benefit from global subsidies of $5.3tr (£3.42tr, A$6.7tr) a year – equating to an astounding $10m per minute every day. IMF has called for an end to the subsidies, outlining the benefits of…

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