Public Finances

Introduction

This section sets out the revenue and expenditure plans of the Government of Gibraltar for 2024/2025. In the charts that are available below, the 2024/2025 figures represent the Government’s estimates; 2023/2024 the forecast outturn; and the prior year figures for the financial year 2022/2023 are drawn from the accounts.

Overall Government Revenue and Expenditure

Government’s overall Consolidated Fund revenue for 2024/2025 is estimated at over £733 million. Government spending from the Consolidated Fund is estimated at nearly £730 million, producing an estimated recurrent surplus of over £3 million. This does not include capital revenue and expenditure which are channeled through the Improvement and Development Fund.

Statutory Benefits

Over £50 million of Statutory Benefits payments were affected in the financial year 2023/2024. This is accounted for separately and does not form part of the Overall Government Revenue and Expenditure.

Capital Investment

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 2024/2025 the expenditure of the Fund is estimated to be nearly £41 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