Headline Comparisons
- Central government current receipts in May were 6.3% higher than in the same month last year. Receipts in April and May 2007 were 5.7% higher than in the same months of 2006. The 2007 Budget implied that central government current receipts for the whole of 2007-08 would be 6.6% above 2006-07 levels.
- Central government current spending in May was 7.2% higher than in the same month last year. Spending in April and May 2007 was 6.3% higher than in the same months of 2006. The 2007 Budget implied that central government current spending for the whole of 2007-08 would be 5.6% above 2006-07 levels.
- Public sector net investment in May was £1.3bn, or 8.2% lower, than in the same month last year. Together, public sector net investment during April and May 2007 has been £2.8bn, which is 15.8% lower than in the same two months of 2006. The Budget predicted that net investment in 2007-08 would be £29.4bn, which is 18.5% above last year's level.
Authors
Gemma Tetlow
More from IFS
Understand this issue
Policy analysis
Academic research
