Public Finances

Introduction 

Below are some explanatory notes on the Government’s public finances for the financial year  2026/2027. In the charts that follow on subsequent pages the 2025/2026 figures represent the  Government’s estimates; 2025/2026 the forecast outturn; and the prior year figures for  2024/2025 are drawn from the accounts. 

Overall Government Revenue and Expenditure 

Government’s overall Consolidated Fund revenue for 2026/2027 is estimated at over  £854 million. Government spending from the Consolidated Fund is estimated at over  £843 million, producing an estimated recurrent surplus of £11 million. This does not include  capital revenue and expenditure which are channelled through the Improvement and  Development Fund. 

Statutory Benefits 

Over £56 million of Statutory Benefits payments were effected in the financial year 2025/2026.  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 2026/2027 the expenditure of the Fund is estimated to be over £55 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.

Summary of Public Finances

Government Companies