Public finance bulletin: January 2011

<p><p><p><p><h4>Headline Comparisons</h4><ul><li><b>Central government current receipts</b> in December were 3.9% higher than in the same month last year. The Office for Budget Responsibility's (OBR) Economic and Fiscal Outlook forecast an increase in receipts relative to last year's levels of 8.9% for the year as a whole and of 9.2% for the period from November 2010 to March 2011. The latest figures show an increase relative to last year's level of 7.5% for the year to date, with an increase of 3.3% in November and December 2010 compared to the same two months in 2009. <p> <li><b>Central government current spending</b> in December was 5.2% higher than in the same month last year. The OBR's latest forecast implies an increase relative to last year's level of 5.4% for the year as a whole and of 4.8% for the period from November 2010 to March 2011. The latest figures show an increase relative to last year's level of 6.0% for the year to date, with an increase of 6.7% in November and December 2010 compared to the same two months in 2009. <p><li><b> Public sector net investment</b> in December was £3.2bn, compared to £8.1bn spent in December 2009. Together, public sector net investment over the first nine months of this financial year has been £24.1bn, which is 19.7% lower than in the same months of 2009. The OBR's latest forecast was that net investment in 2010-11 would be £42.3bn, which is 9.2% below last year's level.</li></ul></p></p></p></p>