Public Finance Press Releases

Public finance bulletin: April 2009

Date: 22 April 2009
Authors:

Headline comparisons

  • Central government current receipts in 2008-09 were £492.1bn, compared to the £507.0bn forecast in the November 2008 Pre-Budget Report for 2008-09, and the £510.2bn received in 2007-08.

  • Central government current spending in 2008-09 was £543.5bn, compared to the £546.1bn forecast in the November 2008 Pre-Budget Report for 2008-09, and the £516.1bn spent in 2007-08.

  • Public sector net investment in 2008-09 was £37.7bn, compared to the £36.5bn forecast in the November 2008 Pre-Budget Report for 2008-09, and the £29.3bn spent on investment in 2007-08.

  • Taking receipts and spending together, the current budget deficit in 2008-09 was £52.3bn in 2008-09, which is £11.1bn higher than the £41.2bn forecast in the November 2008 Pre-Budget Report.

  • Public sector net borrowing totalled £90.0bn in 2008-09, which is £12.4bn higher than the £77.6bn forecast in the November 2008 Pre-Budget Report.

  • Underlying public sector net debt at the end of March 2009 stood at 41.7% of national income, this is higher than the 41.2% forecast in November's Pre-Budget Report. Including the impact of nationalising Northern Rock and Bradford & Bingley raises headline public sector net debt to 50.9%.