Source: Institute for Fiscal Studies (IFS) – A survey of public spending in the UK
Notes:
- 2000-01 figures are adjusted for the one-off effects of the government sale of the 3G spectrum, which reduced public sector net investment by £23.5bn.
- 2012-13 figures are adjusted for the one-off effects of the transfer of the Royal Mail Pension Fund to the public sector, which reduced public sector net investment and total managed expenditure by £28 billion, as well as the £4.3 billion sale of the 4G spectrum.
- All figures are on a basis which excludes the temporary effects of financial interventions.
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