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Home Publications Public finance bulletin September 2004

Public finance bulletin September 2004

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

Headline comparisons

  • Central government current receipts in August were 8.0% higher than in the same month last year. Receipts in the first five 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.

  • Central government current spending in August was 5.7% higher than in the same month last year. Spending in the first five months of this financial year was 6.6% 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.

  • Public sector net investment in August was £1.7bn, or 99.2% higher than in the same month last year. Together, public sector net investment during the first five months of this financial year has been £5.3bn, which is 29.0% higher than in the same five 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.