Public finance bulletin: July 2007

Headline Comparisons

• Central government current receipts in June were 5.2% higher than in the same month last year. Receipts in the first three months of 2007-08 were also 5.2% higher than in the same months of 2006-07. The 2007 Budget implied that central government current receipts for the whole of 2007-08 would be 6.5% above 2006-07 levels.
• Central government current spending in June was 4.7% higher than in the same month last year. Spending in the first three months of 2007-08 was 5.5% higher than in the same months of 2006-07. The 2007 Budget implied that central government current spending for the whole of 2007-08 would be 5.8% above 2006-07 levels
• Public sector net investment in June was £0.5bn, or 45.0%, higher than in the same month last year. Public sector net investment has totalled £4.6bn during the first three months of 2007-08, up 5.2% on the same months of 2006-07. The Budget predicted that net investment in 2007-08 would be £29.4bn, which is 17.6% above last year's level.