Public Finance Press Releases

Public finance bulletin: July 2008

Date: 18 July 2008
Authors:

Headline comparisons

  • Central government current receipts in June were 2.5% higher than in the same month last year. Receipts in April, May and June 2008 were 2.5% 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 4.7% above 2007-08 levels.

  • Central government current spending in June was 6.9% higher than in the same month last year. Spending in April, May and June 2008 was also 6.9% 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 June was £1.5bn, compared to £1.0bn in the same month last year. Together, public sector net investment during April, May and June 2008 has been £4.0bn, which is 77.2% higher than in the same months of 2007. The Budget predicted that net investment in 2008-09 would be £33.8bn, which is 20.6% above last year's level.