Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

PROVISIONAL PUBLIC SECTOR ACCOUNTS 4TH QUARTER 1999

  • Comment
Provisional information on the public sector in the national accounts shows that: ...
Provisional information on the public sector in the national accounts shows that:

in the fourth quarter of 1999:

- public sector surplus on current budget was£5.6bn

- public sector net borrowing was minus£4.5bn

and at the end of the fourth quarter of 1999:

- public sector net debt was equivalent to 39.5% of GDP

This first release updates information previously shown in the monthly public sector finances first release, published on 18 February 2000, and gives more details from national accounts.

BACKGROUND NOTES

1. This first release gives provisional estimates of the public sector components of the national accounts and updates figures given in the monthly public sector finances first release. The final figures will be given in the first release public sector accounts, which will be published on 27 March 2000 along with the rest of the quarterly national accounts. Figures have been revised back to the start of 1998 compared to previous publications.

2. The statistics in this release are published in accordance with the European System of Accounts 1995 (ESA95). This is the system used for UK national accounts. Presentations of public sector finances on an ESA95 basis also appear in financial statistics and the monthly public sector finances first release. Further information can be found in monthly statistics on public sector finances. a methodological guide, no 12 in the government statistical service methodology series (price£5).

3. The presentation is consistent with the format for public finances in pre-budget report (HM Treasury, November 1999): see table B 16 on pages 160-161. The public sector surplus on current budget is equivalent to net saving in national accounts plus capital tax receipts. Net investment is capital expenditure, including net

stockbuilding, net acquisition of land, and payments of investment grants, less sales of capital assets and capital consumption. General government net borrowing is as defined in national accounts.

4. Data are not seasonally adjusted but seasonally adjusted series will be available electronically via the ONS databank service after the publication of final figures on 27 March.

5 . The public sector consists of central government, local authorities and public corporations. General government is central government and local authorities. Details of which organisations are in each sector can be found in sector classification for national accounts (1999).

6. The general government net borrowing figures will be consistent with the estimates of government deficit sent to the European Commission under the requirements of the Maastricht Treaty. These figures are published in the government deficit and debt under the Maastricht Treaty first release today.

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.