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Home Publications Public finance bulletin April 2003

Public finance bulletin April 2003

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

Headline comparisons

  • Public sector surplus on current budget in 2002-03

    was minus £13.8bn (i.e. in deficit), compared to the April 2003 Budget

    forecast of minus £11.7bn.

  • Public sector net borrowing in 2002-03 was

    £25.2bn, compared to the £24.0bn forecast in the Budget.

  • Central government current receipts were 1.7% up

    on the previous year. This is in line with the Budget forecast.

  • Central government current spending was 8.6% up on

    the previous year. The Budget forecast for 2002-03 implied an increase of

    8.0%.

  • Public sector next investment was 19.6% up on the

    previous year. The Budget forecast for 2002-03 implied an increase of

    27.4% for the year as a whole.