Public finance bulletin: July 2008

<p><h4>Headline comparisons</h4> </p><p><ul> </p><p><li><b>Central government current receipts</b> 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. </p><p> </p><p><li><b>Central government current spending</b> 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. </p><p> </p><p><li><b>Public sector net investment</b> 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.</ul></p>