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Public Finance Press Releases
April 2003
Article
Public finance bulletin April 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

    was minus £13.8bn (i.e. in deficit), compared to the April 2003 Budget

    forecast of minus £11.7bn.

  • Public sector net borrowing in 2002-03 was

    £25.2bn, compared to the £24.0bn forecast in the Budget.

  • Central government current receipts were 1.7% up

    on the previous year. This is in line with the Budget forecast.

  • Central government current spending was 8.6% up on

    the previous year. The Budget forecast for 2002-03 implied an increase of

    8.0%.

  • Public sector next investment was 19.6% up on the

    previous year. The Budget forecast for 2002-03 implied an increase of

    27.4% 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.
Related research areas
Public spending and finance
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