Public finance bulletin October 2004

<p><h3>Headline comparisons</h3> </p><p> </p><p><ul> </p><p><li><b>Central government current receipts</b> in September were 7.4% higher than in the same month last year. Receipts in the first half of this financial year were 6.8% higher than in the same period of 2003-04. The 2004 Budget implied that central government current receipts for the whole of 2004-05 would be 7.8% above 2003-04 levels. </p><p> </p><p><li><b>Central government current spending</b> in September was 11.2% higher than in the same month last year. Spending in the first half of this financial year was 6.6% higher than in the period of 2003-04. The 2004 Budget implied that central government current spending for the whole of 2004-05 would be 5.2% above 2003-04 levels. </p><p> </p><p><li><b>Public sector net investment</b> in September was £0.9bn, or 5.4% higher than in the same month last year. Together, public sector net investment during the first half of this financial year has been £5.3bn, which is 1.9% higher than in the same period of 2003-04. The Budget predicted that net investment in 2004-05 would be £22.4bn, which is 63.3% above last year's level. </p><p></ul></p>