Statement 5:
Revenue
(Continued)
Overview
Total revenue has been revised upwards in 2010‑11 and across the forward estimates relative to the Mid‑Year Economic and Fiscal Outlook 2009‑10 (2009‑10 MYEFO). The higher revenue reflects the significant improvement in prospects as the economic recovery in Australia gathers pace, including the effect of resurgent commodity prices.
Revenue in 2009‑10 continues to unfold broadly in line with expectations at both the 2009‑10 Budget and 2009‑10 MYEFO. Lags in the tax system mean that improvements in the economy are not expected to flow immediately into revenue.
A summary of the revenue estimates and projections is provided in Table 1.
Table 1: Australian Government general government revenue
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