ANNEX B3: THE PUBLIC FINANCES
B78 Table B20 gives a breakdown of public sector capital expenditure.
| Table B20: Public sector capital expenditure |
| £ billion | |||||
| Outturn | Projections | ||||
| 2001-02 | 2002-03 | 2003-04 | 2004-05 | 2005-06 | |
| Capital Budget DEL | 18.1 | 21.3 | 25.2 | 27.6 | 30.1 |
| Locally financed expenditure | 1.7 | 1.8 | 1.7 | 1.7 | 1.6 |
| National Lottery | 0.9 | 1.0 | 1.1 | 1.0 | 0.6 |
| Public corporations' own-financed capital expenditure | 1.9 | 2.5 | 2.8 | 2.6 | 2.7 |
| Other capital spending in AME | -0.4 | 1.9 | 3.3 | 4.4 | 5.3 |
| AME margin | 0.0 | 0.0 | 0.2 | 0.0 | 0.1 |
| Public sector gross investment1 | 22.2 | 28.4 | 34.3 | 37.3 | 40.3 |
| Less depreciation | 13.4 | 14.1 | 14.7 | 15.4 | 16.2 |
| Public sector net investment | 8.8 | 14.3 | 19.6 | 21.9 | 24.1 |
| Proceeds from the sale of fixed assets2 | 4.3 | 3.8 | 3.8 | 3.8 | 3.8 |
1 This and previous lines are all net of sales of fixed assets.
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B79 Table B21 shows estimated receipts from loans and sales of assets from 2001-02 to 2005-06. The Government's existing credit facility for British Energy (BE) of £650 million will expire on 29 November 2002. The Secretary of State for Trade and Industry will therefore make an announcement about the outcome of the Government's discussions with the company shortly. The Government expects the loan facility to be managed within the planned totals for Departmental Expenditure Limits and the financial implications of any restructuring to be consistent with the forecast of the public finances and performance against the fiscal rules published in this Pre-Budget Report.
| Table B21: Loans and sales of assets |
| £ billion | |||||
| Outturn | Projections | ||||
| 2001-02 | 2002-03 | 2003-04 | 2004-05 | 2005-06 | |
| Sales of fixed assets | |||||
| Central government | 0.7 | 1.0 | 1.0 | 1.0 | 1.0 |
| Local authorities | 3.6 | 2.8 | 2.8 | 2.8 | 2.8 |
| Total sales of fixed assets | 4.3 | 3.8 | 3.8 | 3.8 | 3.8 |
| Total loans and sales of financial assets | -1.9 | -2.8 | -2.1 | -1.8 | -1.3 |
| Total loans and sales of assets | 2.4 | 0.9 | 1.6 | 1.9 | 2.4 |
FINANCING REQUIREMENT
B80 Table B22 presents projections of the net cash requirement by sector, giving details of financial transactions that do not affect net borrowing (the change in the sector's net financial indebtedness) but do affect its financing requirement.
| Table B22: Public sector net cash requirement |
| £ billion | ||||||||
| 2001-02 | 2002-03 | |||||||
| General government | General government | |||||||
| Central | Local | Public | Public | Central | Local | Public | Public | |
| government | authorities | corporations | sector | government | authorities | corporations | sector | |
| Net borrowing | 1.2 | 0.5 | -0.5 | 1.2 | 17.0 | 1.8 | 1.3 | 20.1 |
| Financial transactions | ||||||||
| Net lending to private sector and abroad | 2.5 | 0.2 | -0.5 | 2.2 | 3.0 | -0.1 | 0.0 | 2.9 |
| Cash expenditure on company securities | -0.4 | -0.3 | 0.1 | -0.7 | -0.1 | 0.0 | 0.0 | -0.1 |
| Accounts receivable/payable | 0.5 | -0.4 | 0.7 | 0.8 | 0.5 | 0.0 | 0.0 | 0.5 |
| Adjustment for interest on gilts | -0.4 | 0.0 | 0.0 | -0.4 | -1.5 | 0.0 | 0.0 | -1.5 |
| Miscellaneous financial transactions | 0.5 | -0.3 | 0.3 | 0.5 | -0.9 | 0.0 | -0.3 | -1.2 |
| Own account net cash requirement | 3.9 | -0.4 | 0.1 | 3.6 | 17.9 | 1.7 | 1.1 | 20.7 |
| Net lending within the public sector | -1.0 | 0.1 | 0.8 | 0.0 | 0.8 | 1.5 | -2.3 | 0.0 |
| Net cash requirement1 | 2.9 | -0.3 | 0.9 | 3.6 | 18.7 | 3.2 | -1.2 | 20.7 |
1 Market and overseas borrowing for local government and public corporation sectors. |
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B81 Table B23 updates the financing arithmetic for 2002-03 to allow for the latest forecast of the central government net cash requirement. The Debt and Reserves Management Report 2002-03 (DRMR), published on 14 March 2002, outlined how the Government planned to finance its net financing requirement in 2002-03.
B82 The forecast for the central government net cash requirement for the financial year 2002-03 has now been revised up from £13.5 billion to £18.7 billion. In addition, National Savings and Investments have increased their forecast for their net contribution by £0.5 billion to minus £1.0 billion. This means that the net financing requirement for 2002-03 is now £37.1 billion, an increase of £5.0 billion from the forecast published in Budget 2002.
B83 In order to meet this increased financing requirement, the Debt Management Office's gilt remit has been revised and they are now instructed to:
- increase gross gilts issuance by £3.8 billion to £26.2 billion; and
- increase the planned rundown of their net cash position by a further £1.2 billion to £6.6 billion.
B84 Full details of these measures and a complete financing table for 2002-03 can be found on the Debt Management Office's website (www.dmo.gov.uk).
| Table B23: Financing requirement forecast |
| 2002-03 | |||
| Original remit1 | Revised remit | Pre-Budget | |
| £ billion | March 2002 | April 2002 | Report |
| Central government net cash requirement | 13.6 | 13.5 | 18.7 |
| Expected gilt redemptions | 17.2 | 17.0 | 17.0 |
| Debt buy-backs | 0.0 | 0.0 | 0.3 |
| Gross financing requirement | 30.8 | 30.5 | 36.0 |
| Less assumed net National Savings and Investments' contribution | -1.5 | -1.5 | -1.0 |
| Less change in DMO balance at the Bank of England | 0.0 | -0.1 | -0.1 |
| Net financing requirement | 32.3 | 32.1 | 37.1 |
| Contingencies | |||
| Less change in Ways and Means facility | 0.0 | 0.0 | 0.0 |
| Less increase in planned Treasury bill stock | 4.3 | 4.3 | 4.3 |
| Less change in other net short-term debt2 | 5.0 | 5.4 | 6.6 |
| Planned gross gilt sales | 23.0 | 22.4 | 26.2 |
| Gilt sales to date (April-October 2002) | 14.2 | ||
| of which: | |||
|
3.0 | ||
|
5.5 | ||
|
2.2 | ||
|
3.5 | ||
| Further planned gilt sales | |||
|
5.5 | ||
|
0.0 | ||
|
5.5 | ||
|
1.0 | ||
Note: Figures may not sum due to rounding.
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ANALYSIS BY SUBSECTOR AND ECONOMIC CATEGORY
B85 Table B24 shows a breakdown of general government transactions by economic category for 2001-02 to 2005-06. Table B25 shows a more detailed breakdown for public sector transactions by sub-sector and economic category for 2001-02 to 2003-04.
| Table B24: General government transactions by economic category |
| £ billion | |||||
| Outturn | Projections | ||||
| 2001-02 | 2002-03 | 2003-04 | 2004-05 | 2005-06 | |
| Current receipts | |||||
| Taxes on income and wealth | 145.1 | 144.4 | 153.5 | 170.1 | 184.2 |
| Taxes on production and imports | 136.4 | 143.9 | 150.3 | 158.4 | 166.9 |
| Other current taxes | 18.3 | 19.7 | 21.1 | 22.6 | 24.3 |
| Taxes on capital | 2.4 | 2.4 | 2.6 | 2.9 | 3.1 |
| Social contributions | 63.5 | 64.5 | 77.0 | 81.4 | 85.8 |
| Gross operating surplus | 8.3 | 8.7 | 9.1 | 9.5 | 10.0 |
| Rent and other current transfers | 1.9 | 2.0 | 1.6 | 1.5 | 1.5 |
| Interest and dividends from private sector and abroad | 4.2 | 3.5 | 3.4 | 4.1 | 4.2 |
| Interest and dividends from public sector | 7.0 | 7.2 | 7.5 | 7.9 | 8.1 |
| Total current receipts | 387.2 | 396.5 | 426.0 | 458.5 | 488.1 |
| Current expenditure | |||||
| Current expenditure on goods and services | 197.8 | 211.5 | 227.7 | 241.4 | 259.6 |
| Subsidies | 6.0 | 6.1 | 6.9 | 6.9 | 7.6 |
| Net social benefits | 125.1 | 130.2 | 136.6 | 142.9 | 149.2 |
| Net current grants abroad | -1.9 | -0.4 | -0.7 | -0.8 | -0.5 |
| Other current grants | 19.9 | 22.7 | 26.4 | 29.2 | 30.7 |
| Interest and dividends paid | 22.5 | 21.1 | 21.9 | 24.1 | 24.2 |
| AME margin | 0.0 | 0.1 | 1.6 | 0.4 | 0.3 |
| Total current expenditure | 369.5 | 391.3 | 420.3 | 444.2 | 471.0 |
| Depreciation | 8.3 | 8.7 | 9.1 | 9.5 | 10.0 |
| Surplus on current budget | 9.4 | -3.5 | -3.4 | 4.8 | 7.0 |
| Capital expenditure | |||||
| Gross domestic fixed capital formation | 11.6 | 16.1 | 20.4 | 23.5 | 25.3 |
| Less depreciation | -8.3 | -8.7 | -9.1 | -9.5 | -10.0 |
| Increase in inventories | 0.0 | 0.7 | 0.6 | 0.4 | 0.6 |
| Capital grants (net) within public sector | 1.8 | 0.6 | 0.5 | 0.4 | 0.4 |
| Capital grants to private sector | 6.9 | 7.0 | 9.0 | 9.8 | 10.6 |
| Capital grants from private sector | -0.9 | -0.5 | -0.7 | -0.6 | -0.6 |
| AME margin | 0.0 | 0.0 | 0.2 | 0.0 | 0.1 |
| Net investment | 11.1 | 15.2 | 21.0 | 24.0 | 26.4 |
| Net borrowing1 | 1.7 | 18.7 | 24.4 | 19.2 | 19.4 |
| of which: | |||||
| Central government net borrowing | 1.2 | 17.0 | 22.7 | 17.5 | 18.1 |
| Local authority net borrowing | 0.5 | 1.8 | 1.6 | 1.7 | 1.3 |
1 Although this is based on the ESA95 definition of general government net borrowing (GGNB), the forecasts are identical to GGNB calculated on a Maastricht definition. |
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| Table B25: Public sector transactions by sub-sector and economic category |
|
£ billion
|
||||
|
2001-02
|
||||
| General government | ||||
| Central | Local | Public | Public | |
| government | authorities | corporations | sector | |
| Current receipts | ||||
| Taxes on income and wealth | 145.1 | 0.0 | -0.1 | 145.1 |
|
|
136.3 | 0.2 | 0.0 | 136.4 |
| Other current taxes | 3.0 | 15.3 | 0.0 | 18.3 |
| Taxes on capital | 2.4 | 0.0 | 0.0 | 2.4 |
| Social contributions | 63.5 | 0.0 | 0.0 | 63.5 |
| Gross operating surplus | 4.6 | 3.7 | 9.4 | 17.7 |
| Rent and other current transfers | 1.9 | 0.0 | 0.6 | 2.5 |
| Interest and dividends from private | ||||
| sector and abroad | 3.4 | 0.7 | 0.5 | 4.7 |
| Interest and dividends from public sector | 5.7 | 1.3 | -7.0 | 0.0 |
| Total current receipts | 366.0 | 21.2 | 3.5 | 390.7 |
| Current expenditure | ||||
| Current expenditure on goods and | ||||
| services | 120.5 | 77.2 | 0.0 | 197.8 |
| Subsidies | 5.1 | 0.9 | 0.0 | 6.0 |
| Net social benefits | 113.2 | 11.9 | 0.0 | 125.1 |
| Net current grants abroad | -1.9 | 0.0 | 0.0 | -1.9 |
| Current grants (net) within public sector | 72.4 | -72.4 | 0.0 | 0.0 |
| Other current grants | 19.9 | 0.0 | 0.0 | 19.9 |
| Interest and dividends paid | 22.2 | 0.3 | 0.1 | 22.6 |
| AME margin | 0.0 | 0.0 | 0.0 | 0.0 |
| Total current expenditure | 351.5 | 18.0 | 0.1 | 369.6 |
| Depreciation | 4.6 | 3.7 | 5.1 | 13.4 |
| Surplus on current budget | 9.8 | -0.4 | -1.7 | 7.7 |
| Capital expenditure | ||||
| Gross domestic fixed capital formation | 4.6 | 7.0 | 4.3 | 15.9 |
| Less depreciation | -4.6 | -3.7 | -5.1 | -13.4 |
| Increase in inventories | 0.0 | 0.0 | 0.1 | 0.0 |
| Capital grants (net) within public sector | 5.7 | -3.9 | -1.8 | 0.0 |
| Capital grants to private sector | 5.8 | 1.1 | 0.3 | 7.2 |
| Capital grants from private sector | -0.4 | -0.5 | 0.0 | -0.9 |
| AME margin | 0.0 | 0.0 | 0.0 | 0.0 |
| Net investment | 11.0 | 0.1 | -2.3 | 8.8 |
| Net borrowing | 1.2 | 0.5 | -0.5 | 1.2 |
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| Table B25: Public sector transactions by sub-sector and economic category |
| £ billion | ||||
| 2002-03 | ||||
| General government | ||||
| Central | Local | Public | Public | |
|
government
|
authorities | corporations | sector | |
| Current receipts | ||||
| 144.4 | 0.0 | -0.2 | 144.3 |
Taxes on income and wealth
|
| 143.7 | 0.2 | 0.0 | 143.9 |
Taxes on production and imports
|
| 3.1 | 16.6 | 0.0 | 19.7 |
Other current taxes
|
| 2.4 | 0.0 | 0.0 | 2.4 |
Taxes on capital
|
| 64.5 | 0.0 | 0.0 | 64.5 |
Social contributions
|
| 4.9 | 3.8 | 9.4 | 18.1 |
Gross operating surplus
|
| 2.0 | 0.0 | 0.7 | 2.7 |
Rent and other current transfers
|
| 2.9 | 0.6 | 0.6 | 4.1 |
Interest and dividends from private sector and abroad
|
| 6.0 | 1.3 | -7.2 | 0.0 |
Interest and dividends from public sector
|
| 374.0 | 22.5 | 3.2 | 399.7 |
Total current receipts
|
| Current expenditure | ||||
| 128.9 | 82.6 | 0.0 | 211.5 |
Current expenditure on goods and services
|
| 5.2 | 0.9 | 0.0 | 6.1 |
Subsidies
|
| 118.0 | 12.2 | 0.0 | 130.2 |
Net social benefits
|
| -0.4 | 0.0 | 0.0 | -0.4 |
Net current grants abroad
|
| 77.4 | -77.4 | 0.0 | 0.0 |
Current grants (net) within public sector
|
| 22.7 | 0.0 | 0.0 | 22.7 |
Other current grants
|
| 20.8 | 0.3 | 0.1 | 21.2 |
Interest and dividends paid
|
| 0.1 | 0.0 | 0.0 | 0.1 |
AME margin
|
| 372.6 | 18.6 | 0.1 | 391.4 |
Total current expenditure
|
| 4.9 | 3.8 | 5.4 | 14.1 |
Depreciation
|
| -3.5 | 0.0 | -2.2 | -5.7 |
Surplus on current budget
|
| Capital expenditure | ||||
| 5.7 | 10.3 | 5.1 | 21.2 |
Gross domestic fixed capital formation
|
| -4.9 | -3.8 | -5.4 | -14.1 |
Less depreciation
|
| 0.7 | 0.0 | 0.0 | 0.7 |
Increase in inventories
|
| 6.1 | -5.5 | -0.6 | 0.0 |
Capital grants (net) within public sector
|
| 5.8 | 1.2 | 0.0 | 7.0 |
Capital grants to private sector
|
| 0.0 | -0.5 | 0.0 | -0.5 |
Capital grants from private sector
|
| 0.0 | 0.0 | 0.0 | 0.0 |
AME margin
|
| 13.5 | 1.7 | -0.9 | 14.3 |
Net investment
|
| 17.0 | 1.8 | 1.3 | 20.1 |
Net borrowing
|
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| Table B25: Public sector transactions by sub-sector and economic category |
| £ billion | ||||
| 2003-04 | ||||
| General government | ||||
| Central | Local | Public | Public | |
| government | authorities | corporations | sector | |
| Current receipts | ||||
| Taxes on income and wealth | 153.5 | 0.0 | -0.2 | 153.3 |
| Taxes on production and imports | 150.1 | 0.2 | 0.0 | 150.3 |
| Other current taxes | 3.4 | 17.8 | 0.0 | 21.1 |
| Taxes on capital | 2.6 | 0.0 | 0.0 | 2.6 |
| Social contributions | 77.0 | 0.0 | 0.0 | 77.0 |
| Gross operating surplus | 5.1 | 4.0 | 10.5 | 19.6 |
| Rent and other current transfers | 1.6 | 0.0 | 0.7 | 2.3 |
| Interest and dividends from private sector and abroad | 2.8 | 0.6 | 0.7 | 4.1 |
| Interest and dividends from public sector | 5.1 | 2.4 | -7.5 | 0.0 |
| Total current receipts | 401.1 | 24.9 | 4.3 | 430.3 |
| Current expenditure | ||||
| Current expenditure on goods and services | 138.3 | 89.4 | 0.0 | 227.7 |
| Subsidies | 5.9 | 1.0 | 0.0 | 6.9 |
| Net social benefits | 123.7 | 12.9 | 0.0 | 136.6 |
| Net current grants abroad | -0.7 | 0.0 | 0.0 | -0.7 |
| Current grants (net) within public sector | 83.5 | -83.5 | 0.0 | 0.0 |
| Other current grants | 26.4 | 0.0 | 0.0 | 26.4 |
| Interest and dividends paid | 21.6 | 0.3 | 0.1 | 22.0 |
| AME margin | 1.6 | 0.0 | 0.0 | 1.6 |
| Total current expenditure | 400.2 | 20.2 | 0.1 | 420.5 |
| Depreciation | 5.1 | 4.0 | 5.6 | 14.7 |
| Surplus on current budget | -4.1 | 0.7 | -1.5 | -4.9 |
| Capital expenditure | ||||
| Gross domestic fixed capital formation | 8.2 | 12.2 | 4.7 | 25.2 |
| Less depreciation | -5.1 | -4.0 | -5.6 | -14.7 |
| Increase in inventories | 0.6 | 0.0 | 0.0 | 0.6 |
| Capital grants (net) within public sector | 7.0 | -6.5 | -0.5 | 0.0 |
| Capital grants to private sector | 7.7 | 1.3 | 0.0 | 9.0 |
| Capital grants from private sector | 0.0 | -0.7 | 0.0 | -0.7 |
| AME margin | 0.2 | 0.0 | 0.0 | 0.2 |
| Net investment | 18.6 | 2.4 | -1.4 | 19.6 |
| Net borrowing | 22.7 | 1.6 | 0.1 | 24.5 |
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| Table B26: Historical series of public sector balances, receipts and debt |
| Per cent of GDP | ||||||||||
| Public | Public | Cyclically | Public | General | Net taxes | Public | Public | General | Public | |
| sector | sector | adjusted public | sector | government | and social | sector | sector | government | sector | |
| current | net | sector net | net cash | net | security | current | net | gross | net | |
| budget | borrowing | borrowing | requirement | borrowing1 | contributions | receipts | debt2 | debt3 | worth4 | |
| 1970-71 | 6.7 | -0.6 | -0.8 | 1.2 | -2.1 | 43.3 | ||||
| 1971-72 | 4.2 | 1.1 | 0.5 | 1.4 | -0.7 | 41.4 | ||||
| 1972-73 | 2.0 | 2.8 | 2.7 | 3.6 | 2.2 | 39.0 | ||||
| 1973-74 | 0.3 | 4.9 | 5.7 | 5.9 | 4.4 | 39.5 | ||||
| 1974-75 | -1.1 | 6.6 | 7.2 | 9.0 | 4.1 | 42.3 | 52.1 | 60.4 | ||
| 1975-76 | -1.6 | 7.0 | 6.5 | 9.3 | 4.8 | 42.9 | 53.9 | 58.7 | ||
| 1976-77 | -1.2 | 5.5 | 4.8 | 6.4 | 4.1 | 43.3 | 52.4 | 59.1 | ||
| 1977-78 | -1.4 | 4.3 | 3.8 | 3.7 | 3.6 | 41.5 | 49.0 | 57.1 | ||
| 1978-79 | -2.6 | 5.0 | 4.8 | 5.2 | 4.3 | 33.3 | 40.2 | 47.1 | 56.2 | |
| 1979-80 | -1.9 | 4.1 | 4.0 | 4.7 | 3.0 | 33.9 | 40.7 | 43.9 | 51.8 | |
| 1980-81 | -3.0 | 4.9 | 2.9 | 5.2 | 3.8 | 35.8 | 42.4 | 46.1 | 52.9 | |
| 1981-82 | -1.4 | 2.3 | -1.7 | 3.3 | 3.3 | 37.8 | 45.8 | 46.1 | 51.7 | |
| 1982-83 | -1.5 | 3.0 | -1.1 | 3.2 | 3.1 | 38.0 | 45.5 | 44.8 | 50.4 | |
| 1983-84 | -2.0 | 3.8 | 0.6 | 3.2 | 3.8 | 38.2 | 44.5 | 45.3 | 50.4 | |
| 1984-85 | -2.2 | 3.7 | 1.0 | 3.1 | 3.3 | 38.9 | 44.4 | 45.2 | 50.3 | |
| 1985-86 | -1.2 | 2.4 | 0.9 | 1.6 | 2.6 | 38.1 | 43.1 | 43.4 | 49.5 | |
| 1986-87 | -1.4 | 2.1 | 1.9 | 0.9 | 2.3 | 37.8 | 42.0 | 41.1 | 48.9 | |
| 1987-88 | -0.3 | 1.0 | 2.1 | -0.7 | 1.3 | 37.6 | 41.1 | 36.8 | 46.5 | 75.8 |
| 1988-89 | 1.7 | -1.3 | 1.2 | -3.0 | -0.9 | 36.9 | 40.7 | 30.6 | 40.6 | 81.8 |
| 1989-90 | 1.4 | -0.2 | 2.5 | -1.3 | 0.3 | 36.2 | 39.9 | 27.7 | 35.5 | 73.5 |
| 1990-91 | 0.4 | 1.0 | 2.6 | -0.1 | 1.4 | 36.3 | 39.0 | 26.2 | 33.3 | 62.3 |
| 1991-92 | -1.9 | 3.8 | 3.3 | 2.3 | 3.7 | 35.0 | 38.6 | 27.4 | 34.4 | 54.5 |
| 1992-93 | -5.6 | 7.6 | 5.5 | 5.9 | 7.4 | 34.0 | 36.6 | 32.0 | 40.6 | 42.1 |
| 1993-94 | -6.2 | 7.8 | 5.5 | 7.1 | 7.8 | 33.0 | 35.8 | 37.1 | 45.9 | 27.9 |
| 1994-95 | -4.8 | 6.3 | 4.9 | 5.3 | 6.5 | 34.1 | 36.9 | 40.8 | 49.4 | 26.7 |
| 1995-96 | -3.4 | 4.8 | 4.1 | 4.3 | 5.0 | 34.9 | 37.8 | 42.8 | 51.9 | 18.6 |
| 1996-97 | -3.0 | 3.7 | 3.2 | 2.9 | 3.9 | 34.9 | 37.4 | 43.7 | 52.1 | 14.7 |
| 1997-98 | -0.2 | 0.8 | 0.8 | 0.1 | 0.9 | 36.1 | 38.5 | 41.5 | 49.1 | 10.6 |
| 1998-99 | 1.2 | -0.5 | -0.2 | -0.8 | -0.5 | 36.5 | 38.8 | 39.2 | 46.3 | 10.2 |
| 1999-00 | 2.2 | -1.7 | -1.4 | -0.9 | -1.7 | 36.5 | 39.1 | 36.2 | 43.2 | 15.1 |
| 2000-01 | 2.2 | -1.7 | -1.2 | -3.9 | -1.7 | 37.4 | 39.8 | 31.2 | 39.9 | 21.3 |
| 2001-02 | 0.8 | 0.1 | 0.2 | 0.4 | 0.2 | 37.1 | 39.2 | 30.4 | 38.2 | 26.5 |
1 UK National Accounts definition.
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| Table B27: Historical series of government expenditure |
| £ billion (2001-02 prices) | Per cent of GDP | |||||||
| Public | Public | Public | Public | Public | Public | |||
| sector | sector | sector | Total | sector | sector | sector | Total | |
| current | net | gross | Managed | current | net | gross | Managed | |
| expenditure | investment | investment1 | Expenditure | expenditure | investment | investment1 | Expenditure | |
| 1970-71 | 161.2 | 30.3 | 49.5 | 210.8 | 32.6 | 6.1 | 10.0 | 42.7 |
| 1971-72 | 168.6 | 26.7 | 46.4 | 215.0 | 33.3 | 5.3 | 9.2 | 42.5 |
| 1972-73 | 176.3 | 25.7 | 46.4 | 222.7 | 33.1 | 4.8 | 8.7 | 41.8 |
| 1973-74 | 193.8 | 28.9 | 52.1 | 245.9 | 35.0 | 5.2 | 9.4 | 44.4 |
| 1974-75 | 214.2 | 30.5 | 55.4 | 269.6 | 38.8 | 5.5 | 10.0 | 48.8 |
| 1975-76 | 219.0 | 29.9 | 55.0 | 274.0 | 39.9 | 5.5 | 10.0 | 49.9 |
| 1976-77 | 225.0 | 24.4 | 50.4 | 275.4 | 39.9 | 4.3 | 8.9 | 48.8 |
| 1977-78 | 221.6 | 16.6 | 42.5 | 264.2 | 38.4 | 2.9 | 7.4 | 45.8 |
| 1978-79 | 228.3 | 14.4 | 41.0 | 269.3 | 38.4 | 2.4 | 6.9 | 45.2 |
| 1979-80 | 234.0 | 13.4 | 40.3 | 274.3 | 38.2 | 2.2 | 6.6 | 44.8 |
| 1980-81 | 240.8 | 10.7 | 38.0 | 278.8 | 40.8 | 1.8 | 6.4 | 47.3 |
| 1981-82 | 251.7 | 5.5 | 32.6 | 284.3 | 42.6 | 0.9 | 5.5 | 48.1 |
| 1982-83 | 257.5 | 9.0 | 35.3 | 292.8 | 42.7 | 1.5 | 5.9 | 48.5 |
| 1983-84 | 265.7 | 11.2 | 37.3 | 303.1 | 42.3 | 1.8 | 5.9 | 48.3 |
| 1984-85 | 273.1 | 9.8 | 34.7 | 307.9 | 42.6 | 1.5 | 5.4 | 48.1 |
| 1985-86 | 273.1 | 8.3 | 30.4 | 303.5 | 41.0 | 1.2 | 4.6 | 45.5 |
| 1986-87 | 277.0 | 4.9 | 27.4 | 304.5 | 40.1 | 0.7 | 4.0 | 44.1 |
| 1987-88 | 280.7 | 4.8 | 25.6 | 306.3 | 38.6 | 0.7 | 3.5 | 42.1 |
| 1988-89 | 274.4 | 2.7 | 24.2 | 298.5 | 36.2 | 0.4 | 3.2 | 39.4 |
| 1989-90 | 276.2 | 9.2 | 30.8 | 307.0 | 35.7 | 1.2 | 4.0 | 39.7 |
| 1990-91 | 277.9 | 11.1 | 30.0 | 307.9 | 36.1 | 1.4 | 3.9 | 40.0 |
| 1991-92 | 294.6 | 14.1 | 30.1 | 324.7 | 38.4 | 1.8 | 3.9 | 42.3 |
| 1992-93 | 309.3 | 15.4 | 30.3 | 339.6 | 40.3 | 2.0 | 3.9 | 44.2 |
| 1993-94 | 319.6 | 12.6 | 27.2 | 346.8 | 40.1 | 1.6 | 3.4 | 43.6 |
| 1994-95 | 330.8 | 12.5 | 27.5 | 358.3 | 39.9 | 1.5 | 3.3 | 43.2 |
| 1995-96 | 335.9 | 12.0 | 27.2 | 363.0 | 39.4 | 1.4 | 3.2 | 42.6 |
| 1996-97 | 339.2 | 6.0 | 20.1 | 359.3 | 38.7 | 0.7 | 2.3 | 41.0 |
| 1997-98 | 336.6 | 5.4 | 19.0 | 355.6 | 37.2 | 0.6 | 2.1 | 39.3 |
| 1998-99 | 336.5 | 6.4 | 19.9 | 356.4 | 36.2 | 0.7 | 2.1 | 38.4 |
| 1999-00 | 341.0 | 4.6 | 17.8 | 358.8 | 35.6 | 0.5 | 1.9 | 37.4 |
| 2000-01 | 356.1 | 5.5 | 18.8 | 375.0 | 36.3 | 0.6 | 1.9 | 38.2 |
| 2001-02 | 369.6 | 8.8 | 22.2 | 391.8 | 37.0 | 0.9 | 2.2 | 39.3 |
1 Net of sales of fixed assets. |
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