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Public Finances

Introduction

This section sets out the revenue and expenditure plans of the Government of Gibraltar for 2018/19.

Overall Government Revenue and Expenditure

Government's overall Consolidated Fund revenue for 2018/2019 is estimated at £652 million. Government spending from the Consolidated Fund is estimated at £628 million, producing a recurrent surplus of nearly £24 million. This does not include capital revenue and expenditure which are channelled through the Improvement and Development Fund.

Statutory Benefits

Over £38 million of Statutory Benefits payments were effected in 2017/2018. This is accounted for separately and does not form part of the Overall Government Revenue and Expenditure.

Capital Investment

The Government's investment in capital projects, to benefit the social and economic development of Gibraltar, is funded by the Improvement and Development Fund.  In 2018/2019 the expenditure of the Fund is estimated to be £72 million.

Government Companies

Government-owned companies are accounted for separately and their financial transactions do not form part of the Overall Government Revenue and Expenditure figures. The Government is also a shareholder in a joint venture utility company providing water services as well as a shareholder in the Gibraltar International Bank.

Summary of Public Finances

Government Companies