Public Finance bulletin: June 2010

<p><p><p><p><p><h4>Headline Comparisons</h4><ul><li><b>Central government current receipts</b> in May were 7.6% higher than in the same month last year. Receipts in April and May 2010 were 8.7% higher than in the same months of 2009. The March 2010 Budget implied that central government current receipts for the whole of 2010&#8722;11 would be 4.8% higher than 2009&#8722;10 levels.<p><li><b> Central government current spending</b> in May was 7.2% higher than in the same month last year. Spending in April and May 2010 was 5.9% higher than in the same months of 2009. The March 2010 Budget implied that central government current spending for the whole of 2010&#8722;11 would be 6.6% above 2009&#8722;10 levels. <p><li><b>Public sector net investment</b> in May was £1.9bn compared to £1.7bn in the same month last year. Together, public sector net investment during April and May 2009 has been £3.4bn, which is 12% higher than in the same two months of 2009. The March Budget predicted that net investment in 2010&#8722;11 would be £39.5bn, which is 11% below last year's level. The Office for Budget Responsibility (OBR) last week forecast that net investment this year would be £40.7bn, 9% below last year's level.</li></ul></p></p></p></p></p>