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Public Finance Press Releases
May 2003
Article
Public finance bulletin May 2003
Type: Public Finance Press Releases
Authors: Robert Chote, Carl Emmerson and Christine Frayne
Published in: Public Finance Bulletins

Headline comparisons

  • Public sector surplus on current budget in 2002-03

    is now estimated to be minus £12.0bn (i.e. in deficit), compared to the

    April 2003 Budget estimate of minus £11.7bn.

  • Public sector net borrowing in 2002-03 is now

    estimated to be £23.4bn, compared to the £24.0bn estimate in the Budget.

  • Central government current receipts in April 2003

    were 7.9% up on the same month last year. The Budget forecast for 2003-04

    implies an increase of 7.0%.

  • Central government current spending in April 2003

    was 0.9% down on the same month last year. The Budget forecast for 2003-04

    implies an increase of 6.1%.

  • Public sector next investment in April 2003 was

    157.5% up on the same month last year. The Budget forecast for 2003-04

    implies an increase of 64.7% for the year as a whole.

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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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