Public finance bulletin September 2004

<p><h3>Headline comparisons</h3> </p><p> </p><p><ul> </p><p><li><b>Central government current receipts</b> in August were 8.0% higher than in the same month last year. Receipts in the first five months of this financial year were 6.5% higher than in the same months of 2003-04. The 2004 Budget implied that central government current receipts for the whole of 2004-05 would be 7.6% above 2003-04 levels. </p><p> </p><p><li>Central government current spending</b> in August was 5.7% higher than in the same month last year. Spending in the first five months of this financial year was 6.6% higher than in the same months of 2003-04. The 2004 Budget implied that central government current spending for the whole of 2004-05 would be 5.2% above 2003-04 levels. </p><p> </p><p><li><b>Public sector net investment</b> in August was £1.7bn, or 99.2% higher than in the same month last year. Together, public sector net investment during the first five months of this financial year has been £5.3bn, which is 29.0% higher than in the same five months of 2003-04. The Budget predicted that net investment in 2004-05 would be £22.4bn, which is 64.0% above last year's level. </p><p></ul></p>