Public Finance Press Releases

Public finance bulletin: June 2008

Date: 19 June 2008
Authors:

Headline Comparisons

  • Central government current receipts in May were 2.7% higher than in the same month last year. Receipts in April and May 2008 were 3.6% higher than in the same months of 2007. The 2008 Budget implied that central government current receipts for the whole of 2008-09 would be 4.8% above 2007-08 levels.

  • Central government current spending in May was 3.5% higher than in the same month last year. Spending in April and May 2008 was 5.4% higher than in the same months of 2007. The 2008 Budget implied that central government current spending for the whole of 2008-09 would be 5.4% above 2007-08 levels.

  • Public sector net investment in May was £1.9bn, compared to £1.0bn in the same month last year. Together, public sector net investment during April and May 2008 has been £3.4bn, which is 167% higher than in the same two months of 2007. The Budget predicted that net investment in 2008-09 would be £33.8bn, which is 22.2% above last year's level.