It is underfunded - even if you, the Spectator and the Conservative Government insist it isn't. Mind you the last two still claim £350m p.w. was freed up after leaving the EU to fund the NHS, and that Boris Johnson wasn't lying when he claimed there were 40 new hospitals in the pipeline!
Funding hasn't kept pace with demand since the Austerity Cult took power in 2010. There is an ageing population putting greater pressure on the NHS, growing waiting lists, a massive recruitment and retention crisis (made worse by Brexit) and degrading hospital infrastructure. Added to that social care is in the biggest crisis ever (ignored by the Tories and now also by Labour after Starmer's latest U turn) and ading to the NHS's problems.
https://nhsfunding.info/nhs-crisis-making/
https://www.bma.org.uk/advice-and-su...-data-analysis