Public Finance Press Releases

Public finance bulletin: April 2008

Date: 18 April 2008
Authors:

Headline Comparisons

  • Public sector current budget in 2007-08 was in deficit by £7.6bn compared to the March 2008 Budget projection of a deficit of £7.9bn (and the March 2007 Budget projection for a deficit of £4.3bn).
  • Public sector net borrowing in 2007-08 was £35.6bn compared to the March 2008 Budget projection of £36.4bn (and the March 2007 Budget projection of £33.7bn).
  • Public sector net debt at the end of 2007-08 was £527.7bn, or 36.7% of national income compared to the March 2008 Budget projection of 37.1% (and the March 2007 Budget projection of 38.2%).
  • Central government current receipts in March were 7.6% higher than in the same month last year and over the whole of 2007-08 were 5.7% above the outturn for 2006-07. Overall, current receipts in 2007-08 are thought to have been £510.8bn, compared to the March 2008 Budget projection of £511.5bn (and the March 2007 Budget projection of £515.7bn).
  • Central government current spending in March was 7.6% higher than in the same month last year and over the whole of 2007-08 was 6.1% above the outturn for 2006-07. Overall, current spending in 2007-08 is now thought to have been £518.6bn compared to the March 2008 Budget projection of £519.1bn (and the March 2007 Budget projection of £518.6bn).
  • Public sector net investment in March was 6.5% higher than in the same month last year and over the whole of 2007-08 was 8.6% above the outturn for 2006-07. Overall, net investment in 2007-08 is now thought to have been £28.0bn compared to the March 2008 Budget projection of £28.5bn (and the March 2007 Budget projection of £29.4bn).