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Home Publications Public finance bulletin June 2005

Public finance bulletin June 2005

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

Headline Comparisons

  • Central government current receipts in May were 4.2% higher than in the same month last year. Receipts in April and May 2005 were 6.6% higher than in the same months of 2004. The 2005 Budget implied that central government current receipts for the whole of 2005-06 would be 8.5% above 2004-05 levels.

  • Central government current spending in May was 7.4% higher than in the same month last year. Spending in April and May 2005 was 4.9% higher than in the same months of 2004. The 2005 Budget implied that central government current spending for the whole of 2005-06 would be 6.0% above 2004-05 levels.

  • Public sector net investment in May was £1.6bn, or 65.0% higher, than in the same month last year. Together, public sector net investment during April and May 2005 has been £2.7bn, which is 94.5% higher than in the same two months of 2004. The Budget predicted that net investment in 2005-06 would be £26.2bn, which is 45.9% above last year's level.