Sunday, December 25, 2016

Revision to March 2016 Public Revenue Data

On December 25, 2016 we revised the source for UK public revenue for the period 1947 to the present in order to display more detailed revenue data.

Revenue outturn data still comes from the Office for National Statistics' March 2016 Public Sector Finances report using a spreadsheet file labeled "Public Sector Finances time series dataset". Now we have increased the number of revenue data items from 24 to 35. Mainly the new items provide more detail for income taxes and production taxes, as follows:

Selected Previous Revenue Items Selected New Revenue Items
CNMCU - Taxes on income and wealthCLIBR - Income tax
CN445 - Corporation tax
CHZS7 - Taxes on capital
CNMBY - Taxes on productionCBKST - Stamp taxes on shares
CCDDZ - Vehicle excise duties
CEKED - Vehicle excise duties paid by business
CGTAO - Tobacco duties
CMF6V - Alcohol duties
CCUKY - Business rates
CNZGF - Value added tax
CCUDG - Fuel duties
CMM9F - Stamp duty land tax
CMF6W - Other taxes

Revenue forecast data for 2015-16 to 2017-18 used to come from the Office of Budget Responsibility's March 2016 Economic and fiscal outlook report using 18 revenue items from table "2.8 Current receipts" in a spreadsheet file labeled "Economic and fiscal outlook supplementary fiscal tables - March 2016".  Now we are using Table 4.6 Current Receipts from the same spreadsheet and extracting 36 revenue items.