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February 2004
Article
Public finance bulletin February 2004
Type: Public Finance Press Releases
Authors: Robert Chote, Carl Emmerson and Christine Frayne
Published in: Public Finance Bulletins

Headline comparisons

  • Central government current receipts in January were just 3.5% higher than in the same month last year. Last month's Pre-Budget Report forecast for 2003-04 implies an increase over last year's levels of 5.9% for the year as a whole; the latest figures show an increase over last year's levels of 5.5% for the year to date. The Pre-Budget Report forecast also implies a 6.8% increase over last year for the period from November 2003 to March 2004; the month's figures show a cumulative increase of 6.1% over last year for the three months since the Pre-Budget Report.

  • Central government current spending in January was just 2.8% higher than in the same month last year. Last month's Pre-Budget Report forecast for 2003-04 implies an increase over last year's levels of 8.3% for the year as a whole; the latest figures show an increase over last year's levels of 8.4% for the year to date. The Pre-Budget Report forecast also implies a 6.7% increase over last year for the period from November 2003 to March 2004; the month's figures show a cumulative increase of 6.1% over last year for the three months since the Pre-Budget Report.

  • Public sector net investment in January was 109.1% higher than in the same month last year. Last month's Pre-Budget Report forecast for 2003-04 implies an increase over last year's levels of 69.3% for the year as a whole; the latest figures show an increase over last year's levels of 75.2% for the year to date. The Pre-Budget Report forecast also implies a 68.0% increase over last year for the period from November 2003 to March 2004; the month's figures show a cumulative increase of 80.7% over last year for the three months since the Pre-Budget Report.

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IFS public finance bulletins are generously supported by the Economic and Social Research Council. The analysis is based on IFS calculations and does not reflect the views of the ESRC.
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