Public Finance Press Releases

Public finance bulletin: May 2010

Date: 21 May 2010
Authors:

Headline Comparisons

  • Public sector surplus on the current budget , in 2009-10 is now estimated to have been minus £100.1bn (i.e. in deficit) compared to the initial estimated outturn published last month of minus £107.6bn. Excluding the impact of temporary financial sector interventions, these numbers are £106.4bn and £113.7bn, respectively.

  • Public sector net borrowing, in 2009-10 is now estimated to have been £145.4bn compared to the initial estimated outturn published last month of £152.8bn. Excluding the impact of temporary financial sector interventions, these numbers are £156.1bn and £163.4bn, respectively.

  • Public sector net debt at the end of 2009-10 is now estimated to have been £772.0bn, or 53.8% of national income, very fractionally higher than the initial estimated outturn published last month. This excludes the impact of temporary financial sector interventions.

  • Central government current receipts in April were 7.2% higher than in the same month last year. However, the April figures are flattered by £2.0bn of receipts from the one-off bank payroll tax; excluding this reduces the growth to 2.0%. The March 2010 Budget implied that central government current receipts for the whole of 2010-11 would be 4.8% above 2009-10 levels.

  • Central government current spending in April was 6.5% higher than in the same month last year. The March 2010 Budget implied that central government current spending for the whole of 2010-11 would be 6.8% above 2009-10 levels.

  • Public sector net investment in April was £0.7bn compared to £1.3bn in the same month last year. The March 2010 Budget predicted that net investment in 2010-11 would be £39.5bn, which is 12.7% below last year's level.