 | |
| Parliament | 54th |
|---|---|
| Party | Labour |
| Chancellor | Gordon Brown |
| Total revenue | £487 billion‡ |
| Total expenditures | £519 billion‡ |
| Deficit | £32 billion‡ |
| Website | Budget 2005 |
| ‡Numbers are projections. ‹ 2004 2006 › | |
The 2005 United Kingdom Budget, officially known as Investing for our future: Fairness and opportunity for Britain's hard-working families was the formal government budget for the year 2005. [1]
| Receipts | 2005-06 Revenues (£bn) |
|---|---|
| Business rates | 19 |
| Corporation Tax | 44 |
| Council Tax | 21 |
| Excise Duties | 41 |
| Income Tax | 138 |
| NI | 83 |
| VAT | 76 |
| Other | 65 |
| Total Government revenue | 487 |
| Department | 2005-06 Expenditure (£bn) |
|---|---|
| Debt Interest | 26 |
| Defence | 28 |
| Education | 68 |
| Health | 90 |
| Housing & Environment | 16 |
| Industry, Agriculture, Employment | 20 |
| Law & Order | 31 |
| Other | 49 |
| Personal Social Services | 23 |
| Social Security | 146 |
| Transport | 20 |
| Total Government spending | 517 |
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