Public Finance Press Releases

Public finance bulletin January 2004

Date: 21 January 2004
Authors:
Journal, book or Issue Title: Public Finance Bulletins

Headline comparisons

  • Central government current receipts in December were 11.6% higher than in the same month last year. Last month's Pre-Budget Report 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. The Pre-Budget Report forecast also implies a 7.0% increase over last year for the period from November 2003 to March 2004; the month's figures show a cumulative increase of 9.0% over last year for the two months since the Pre-Budget Report.

  • Central government current spending in December was 9.8% higher than in the same month last year. Last month's Pre-Budget Report forecast for 2003-04 implies an increase over last year's levels of 8.3% for the year as a whole; the latest figures show an increase over last year's levels of 9.4% for the year to date. The Pre-Budget Report forecast also implies a 6.2% increase over last year for the period from November 2003 to March 2004; the month's figures show a cumulative increase of 8.2% over last year for the two months since the Pre-Budget Report.

  • Public sector net investment in December was 93.1% higher than in the same month last year. Last month's Pre-Budget Report forecast for 2003-04 implies an increase over last year's levels of 69.3% for the year as a whole; the latest figures show an increase over last year's levels of 83.3% for the year to date. The Pre-Budget Report forecast also implies a 65.6% increase over last year for the period from November 2003 to March 2004; the month's figures show a cumulative increase of 103.7% over last year for the two months since the Pre-Budget Report.

  • Central government current receipts in May were 5.5% higher than in the same month last year. Receipts in April and May 2004 were 3.7% higher than in the same months of 2003. The 2004 Budget implied that central government receipts for the whole of 2004-05 would be 7.4% above 2003-04 levels.

  • Central government current spending in May was 3.1% higher than in the same month last year. Spendning was 5.6% higher than in the same months of 2003. The 2004 Budget implied that central government current spending for the whole of 2004-05 would be 5.3% above 2003-04 levels.

  • Public sector net investment in May was £0.4bn, or 69.7% higher than in the same month last year. Together, public sector net investment during April and May 2004 has been £0.7bn, which is 62.8% lower than in the same two months of 2003. The Budget predicted that net investment in 2004-05 would be 22.4bn, which is 56.6% above last year's level.