This section sets out the revenue and expenditure plans of the Government of Gibraltar for 2023/2024. In the charts that are available below, the 2023/2024 figures represent the Government’s estimates; 2022/2023 the forecast outturn; and the prior year figures for the financial year 2021/2022 are drawn from the accounts.
Overall Government Revenue and Expenditure
Government’s overall Consolidated Fund revenue for 2023/2024 is estimated at nearly £724 million. Government spending from the Consolidated Fund is estimated at over £721 million, producing an estimated recurrent surplus of over £2 million. This does not include capital revenue and expenditure which are channeled through the Improvement and Development Fund.
A total of almost £46 million of Statutory Benefits payments were effected in the financial year 2022/2023. This is accounted for separately and does not form part of the Overall Government Revenue and Expenditure.
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 2023/2024 the expenditure of the Fund is estimated to be £48 million.
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