<p><p><p><h4>Headline Comparisons</h4><ul> </p><p><li><em class="bold">Central government current receipts</em> in May were 2.7% higher than in the same month last year. Receipts in April and May 2008 were 3.6% higher than in the same months of 2007. The 2008 Budget implied that central government current receipts for the whole of 2008-09 would be 4.8% above 2007-08 levels. </p><p><li><em class="bold">Central government current spending</em> in May was 3.5% higher than in the same month last year. Spending in April and May 2008 was 5.4% higher than in the same months of 2007. The 2008 Budget implied that central government current spending for the whole of 2008-09 would be 5.4% above 2007-08 levels. </p><p><li><em class="bold">Public sector net investment</em> in May was £1.9bn, compared to £1.0bn in the same month last year. Together, public sector net investment during April and May 2008 has been £3.4bn, which is 167% higher than in the same two months of 2007. The Budget predicted that net investment in 2008-09 would be £33.8bn, which is 22.2% above last year's level. </p><p> </p><p></p>
Authors
Carl Emmerson
Carl, a Deputy Director, is an editor of the IFS Green Budget, is expert on the UK pension system and sits on the Social Security Advisory Committee.
Gemma Tetlow
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