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Budget 2005 Home Page Half-Year Economic & Fiscal Update 2005

Revenue and Expenses

Table 2.3 – Revenue and expenses comparison with Pre-election Update
  Year ended 30 June
  2005 Actual 2006 Forecast 2007 Forecast 2008 Forecast 2009 Forecast 2010 Forecast
(% of GDP)
Total Revenue            
Half Year Update 44.4 43.9 44.2 43.9 43.1 43.7
Pre-election Update   44.4 44.7 43.8 44.1  
Total Expenses            
Half Year Update 40.3 40.5 40.7 41.6 41.3 41.1
Pre-election Update   39.8 40.8 41.4 41.1  
Core Crown Revenue            
Half Year Update 34.5 34.2 34.4 33.9 33.3 34.1
Pre-election Update   34.5 34.6 33.9 34.3  
Core Crown Expenses            
Half Year Update 30.6 31.9 31.8 32.6 32.5 32.4
Pre-election Update   31.0 31.8 32.5 32.4  
SOE Revenue            
Half Year Update 5.9 7.1 7.3 7.2 7.2 7.1
Pre-election Update   6.9 7.0 6.9 6.9  
SOE Expenses            
Half Year Update 5.5 6.6 6.8 6.7 6.6 6.5
Pre-election Update   6.4 6.5 6.4 6.3  
Crown Entities' Revenue            
Half Year Update 14.0 15.0 15.3 15.1 14.5 13.9
Pre-election Update   14.9 15.0 14.6 14.2  
Crown Entities' Expenses            
Half Year Update 13.0 14.2 14.6 14.4 13.8 13.4
Pre-election Update   14.3 14.3 13.9 13.4  

Source: The Treasury

Over the forecast period, total revenue to GDP is expected to increase initially before dropping in 2008/09 due to a tax policy decision resulting in a change to provisional tax dates (aligning the payment dates for provisional tax and GST will result in payment deferral. For some taxpayers, the deferral pushes a provisional tax payment out of 2008/09 and into the following fiscal year) before returning to previous levels by 2009/10. Total expenses to GDP are also forecast to rise initially before flattening by 2008/09.

The trend in total revenue and expenses over the forecast horizon will largely be driven by activity in the core Crown segment of reported government activity.

The following section discusses revenue and expenses of the Crown by segment of reported government activity (ie, core Crown, SOEs and Crown entities).

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