Public finance bulletin August 2005

Headline comparisons

• Central government current receipts in July were 9.1% higher than in the same month last year. Receipts in the first four months of 2005ְ6 were 6.9% higher than in the same months of 2004ְ5. The 2005 Budget implied that central government current receipts for the whole of 2005ְ6 would be 8.3% above 2004ְ5 levels.
• Central government current spending in July was 4.5% higher than in the same month last year. Spending in the first four months of 2005ְ6 was 6.4% higher than in the same months of 2004ְ5. The 2005 Budget implied that central government current spending for the whole of 2005ְ6 would be 6.0% above 2004ְ5 levels.
• Public sector net investment in July was ñ.2bn, or 91.8% higher, than in the same month last year. Together, public sector net investment during the first four months of 2005ְ6 has been ÷.2bn, which is 102.6% higher than in the same months of 2004ְ5 The Budget predicted that net investment in 2005ְ6 would be ò6.2bn, which is 38.0% above last year's level.