Thursday, 22 July 2010

http://www.hm-treasury.gov.uk/budget2010_graphics.htm


HM Treasury

24 March 2010

Budget 2010 in graphics

The following charts and graphs explain some of the key economic measurements in this year's Budget.

Action the Government is taking to reduce the deficit by £57bn

The Government has set out its plan to more than halve the deficit over 4 years, from 11.8% in 2009-10 to 5.2% by 2013-14. Part of this reduction in borrowing will come from growth in the economy and a return to business as usual. The Government has also set out discretionary action worth £57 billion as part of this plan to reduce the deficit. £19 billion of this will come from tax rises announced since the Pre-Budget report in 2008, with the top 5% of earners paying over half of these additional taxes. £38 billion will come from reduced spending, where the Government has reduced the annual average growth in day-to-day spending to 0.8% a year over the three years from 2011-12 to 2013-14, and lowered investment to 1.25% of GDP by 2013-14. Departmental budgets will not be set until the next Spending Review, but already through processes like the Operational Efficiency Programme, (looking at the costs of Government) and the Public Value Programme (looking at how the public sector delivers services and reprioritisation) the Government has set out significant savings.

The chart below shows how at each Budget and Pre-Budget Report the Government has set out further detail on its fiscal consolidation plan.

Diagram showing key measures announced from Pre-Budget Report 2009 to Budget 2010 contributing to reduced spending of £38bn and increased taxation of £19bn by 2013-14.

GDP chart

The chart below shows UK Gross Domestic Product (GDP), which measures the country’s total economic output. It is the sum of all goods and services produced in the economy. When the GDP figure is positive the economy is growing, whereas a negative figure shows the economy contracting or shrinking.

This line graph shows Gross Domestic Product (GDP) from 1950 until 2015 (forecasted growth), expressed as percentage change on the previous year. It shows year-on-year growth since 1993, until a five per cent contraction in 2008-09. GDP is forecast to rise over the next five years at a rate of between one and four per cent.

Receipts chart

This chart shows government receipts by function:

This pie chart sets out the source of government receipts by providing a summary of the revenue from direct and indirect taxes. The taxes with the biggest receipts are itemised and the smaller ones are grouped together in an 'other' category. The receipts of itemised taxes vary from nearly £150bn to £25bn: Total receipts: £541 billion, comprising: Income tax: 146 billion, National Insurance: £97 billion, Excise duties £46 billion, Corporation tax: £42 billion, VAT: £78 billion, Business rates: £25 billion, Council tax: £26 billion, Other: £81 billion. Source: HM Treasury 2010-11 estimates. Other receipts include capital taxes, stamp duties, vehicle excise duties and some other tax and non-tax receipts – for example interests and dividends. Figures may not sum to total due to rounding.

Spending chart

This chart shows government expediture by category:

This pie chart shows where taxpayers' money is spent. It shows the 10 biggest areas of Total Managed Expenditure ('TME'), with other, smaller areas of TME grouped together: Total managed expenditure: £704 billion. Comprising: Social protection: £169 billion, Personal social services: £33 billion, Health: £122 billion, Transport: £22 billion, Education: £89 billion, Defence: £40 billion, Industry, agriculture and employment: £20 billion, Housing and environment: £27 billion, Public order and safety: £36 billion, Debt interest: 43 billion, Other: 74 billion. Source: HM Treasury 2010-11 near cash projections. The allocation of spending to functions is largely based on the United Nations’ Classifications of the Functions of Government (COFOG). Other expenditure includes: general public services, (including international services); recreation, culture and religions; public service pensions; plus spending yet to be allocated and some accounting adjustments. Social protection includes tax credit payments in excess of an individual’s tax liability, which are now counted in AME, in line with OECD guidelines. Figures may not sum due to rounding.

Employment and unemployment rates

The chart below shows the employment rate (the percentage of working-age adults that are in work) and the unemployment rate (the number of jobless people who want to work, are available to work and are actively looking for work).

The line graph shows the UK employment and unemployment rates, expressed as a percentage, between 1980 and the present. The two trend lines broadly mirror each other. Employment beginning at approximately 74 per cent and concludes at approximately 72 per cent. Unemployment ranges from 4 to 12 per cent over the period shown, finishing on approximately 8 per cent. The line showing the employment rate dips in the early 1980s before rising to a peak in the early 1990s, and remaining at a relatively high and constant level after 2000, before falling again at the end of the last decade.

Claimant count, inflows and outflows

The other measure used for unemployment in the UK is the claimant count, which measures the total number of people claiming unemployment benefits. Inflows shows the number of people coming on and Outflows shows the number of people moving off unemployment benefits.

This line graph shows claimant count, inflows and outflows, in thousands, from 1989 to the present. The three sets of data follow similar trends, rising between 1989 and 1993, dropping steadily until 2008 before rising again. Source: Labour Market Statistics, ONS, 2010.

Posted by Britannia Radio at 12:43