15.6 UK Government spending & taxation: main magnitudes

Table 1: Spending 2006 - 2007¹

	£bn	%
Social Protection	153	28
Health	96	17
Education	71	13
Public order & safety	32	6
Defence	32	6
Debt interest	28	5
Personal social services	27	5
Transport	21	4
Industry, agriculture etc	21	4
Housing & environment	21	4
Other expenditure	53	10

Total Spending	555	100

Table 2:Tax Receipts 2006 - 2007²

	£bn	%
Income tax	146	28
National Insurance	89	17
VAT	76	15
Corporation tax	48	9
Excise duties	40	8
Council tax	23	4
Business rates	21	4
Other	75	14

Total tax receipts	518	100

Table 3³: Money GDP (£bn)

Financial year	Money GDP (£bn)
2006 - 2007	1305
2007 - 2008	1378

Source: Pre-Budget Report, Dec 2006, Cm 6984, HM Treasury, http://www.hm-treasury.co.uk/

1: Chart 1.1, page 11.

2: Chart 1.2, page 11.

3: Table B3, page 223.

In 2007-2008, government spending is projected to increase by 5% to £585bn; tax receipts are projected to rise by 7% to £554bn. Due to rounding, percentages may not sum to 100.

IM, February 2007.

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