Correct, very few advanced economies get what we do for noticeably less, and the most productive nations are largely to the left of us on this chart. Which clearly suggests that rather than ring fencing against decreases, it is a worthy sector for more cash.
It might be more accurate to say that
others have tested to destruction the idea that throwing money into the pit can ever fill it, because we certainly haven't. The idea we seem intent on testing is that an endless series of restructurings can fix it. A sensible technocratic overhaul is doubtless in order, but politicians with an electoral cycle to worry about can't afford the necessary patience.
