Since 1948 there has been constant debate over whether the NHS is unde
rfunded. The debate heats up when crises in the NHS hit the headlines
as occurred last year. Various groups, of all shades of the political
spectrum, have argued that the NHS is unsustainable with current fundi
ng increase because of demands from demographic change, new technology
; and increasing expectations. The government is almost a lung voice i
n arguing that the NHS is sustainable but may not be doing enough to e
nsure that it remains so in future. This article examines seven broad
approaches used to support the case that the NHS is underfunded and co
ncludes that all have flaws. There is no satisfactory answer to the qu
estion of whether the NHS is underfunded because the answer requires v
alue judgements that will inevitably give rise to disagreements.