Conservative Alternative Budget 2014
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Key Statistics
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20132014
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Economic Growth1.8%2.7%
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Inflation (CPI)2.6%1.9%
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Unemployment Rate7.6%6.8%
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Real wage growth-1.1%0.8%
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Number Unemployed2,456,627 2,214,764
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Budget Balance
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20132014
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TOTAL PUBLIC SPENDING£716,132£745,290
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SPENDING % GDP43.22%43.01%
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Public Services£374,976£392,245
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Non-Pension Social Security£117,248£119,110
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Pensions£92,682£96,815
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Debt Interest£49,530£51,847
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Locally Financed Expenditure£27,100£27,600
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o/w capital£24,310£27,302
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TOTAL TAX REVENUE£607,417£649,168
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TAX REVENUE % GDP36.66%37.46%
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Council Tax£27,100£27,600
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Bank of England Rate0.5%0.5%
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Deficit£108,715£96,122
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% GDP6.56%5.55%
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Deficit ex. Capital spending
£84,406£68,820
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% GDP5.09%3.97%
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National Debt
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20132014
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Public Sector Net Debt£1,268,700£1,364,822
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% GDP76.57%78.76%
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Debt interest£49,530£51,847
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