 | |
| Parliament | 53rd |
|---|---|
| Party | Labour |
| Chancellor | Gordon Brown |
| Total revenue | £423 billion‡ |
| Total expenditures | £460 billion‡ |
| Deficit | £37 billion‡ |
| Website | Budget 2003 |
| ‡Numbers are projections. ‹ 2002 2004 › | |
The 2003 United Kingdom Budget, officially known as Opportunity for all: The strength to take the long-term decisions for Britain was the formal government budget for the year 2003. [1]
| Receipts | 2003-04 Revenues (£bn) |
|---|---|
| Business rates | 19 |
| Corporation Tax | 29 |
| Council Tax | 18 |
| Excise Duties | 38 |
| Income Tax | 119 |
| NI | 73 |
| VAT | 69 |
| Other | 58 |
| Total Government revenue | 423 |
| Department | 2003-04 Expenditure (£bn) |
|---|---|
| Debt Interest | 22 |
| Defense | 27 |
| Education | 59 |
| Health | 73 |
| Housing & Environment | 20 |
| Industry, Agriculture, Employment | 17 |
| Law & Order | 29 |
| Other | 46 |
| Personal Social Services | 17 |
| Social Security | 135 |
| Transport | 16 |
| Total Government spending | 461 |
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