Fiscal Outlook
Core Crown revenue expected to recover as taxes respond to a stronger economy
Core Crown revenue is expected to increase from $56.4 billion in the June 2010 year (29.8% of GDP) to $72.9 billion in the June 2014 year (30.7% of GDP), primarily led by the increase in tax revenue described above (Figure 1.6). Tax revenue is forecast to rebound as the economy recovers, albeit with a lag because of recent weakness in tax revenue and a build-up of losses.
- Figure 1.6 - Core Crown expenses and revenue
- Source: The Treasury
