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Home Publications Public finance bulletin March 2004

Public finance bulletin March 2004

Robert Chote, Carl Emmerson and Christine Frayne
Public finance press release

Headline comparisons

  • Central government current receipts in February were 10.6% higher than in the same month last year. To achieve the forecast for 2003-04 in last week's Budget, which was made just before the February 2004 public finance figures were published, would require an 8.2% increase over last year during February and March 2004. The Budget forecast for 2003-04 implies an increase over last year's levels of 5.9% for the year as a whole; the latest figures show an increase over last year's levels of 5.9% for the year to date.

  • Central government current spending in February was 9.1% higher than in the same month last year. To achieve the forecast for 2003-04 in last week's Budget would require a 7.8% increase over last year during February and March 2004. The Budget forecast for 2003-04 implies an increase over last year's levels of 8.2% for the year as a whole; the latest figures show an increase over last year's levels of 8.4% for the year to date.

  • Public sector net investment in February was 56.4% higher than in the same month last year. To achieve the forecast for 2003-04 in last week's Budget would require a 37.0% increase over last year during February and March 2004. The Budget forecast for 2003-04 implies an increase over last year's levels of 65.9% for the year as a whole; the latest figures show an increase over last year's levels of 83.2% for the year to date.