Public finance bulletin July 2004

<p><h3>Headline comparisons</h3> </p><p><ul> </p><p><li><em class="bold">Central government current receipts</em> in June were 8.2% higher than in the same month last year. Receipts in the first three months of this financial year were 6.5% higher than in the same months of 2003-04. The 2004 Budget implied that central government current receipts for the whole of 2004-05 would be 7.6% above 2003-04 levels. </p><p><li><em class="bold">Central government current spending</em> in June was 4.6% higher than in the same month last year. Spending in the first three months of this financial year was 5.8% higher than in the same months 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><li><em class="bold">Public sector net investment</em> in June was £0.8bn, or 56.6% higher than in the same month last year. Together, public sector net investment during the first three months of this financial year has been £1.9bn, which is 21.1% lower than in the same three months of 2003-04. The Budget predicted that net investment in 2004-05 would be £22.4bn, which is 64.0% above last year's level </p><p></ul></p>