Growth statistics hide underlying inequities.

Slower growth means less revenue, and a faster downward spiral.

Revenue growth Increased operational efficiency High client satisfaction and Good governance and oversight.

Fiscal consolidation therefore requires additional revenue as well as slower growth in entitlement spending.

Conventional taxes raise revenue, but pose a much greater risk of depressing growth in the process.

Gordon s point is not that growth will decelerate in the future, but rather that underlying productivity growth moved to a sharply lower trajectory around the year 2000.

The poorer an economy s growth prospects, the larger the fiscal correction and deleveraging needed to convince markets of underlying solvency.

Austerity s underlying logic is that budget cuts, by reducing the debt burden and restoring confidence, ultimately enhance stability and support growth.

Faced with intense competition to contribute to GDP growth, local governments were compelled to seek other ways to augment fiscal revenue.

The big question is whether the US can strengthen revenue in an appropriate manner that is consistent with renewed economic growth.

One reason is that revenue growth usually goes hand in hand with macroeconomic growth, which increasingly is found in emerging market countries, rather than in many banks mature Western home markets.

But recent research shows that they can also play a useful role in raising government revenue at little cost in terms of economic growth.

As noted below, with the growth of mass media, especially from the nineteenth century, news advertising became the most important source of media revenue.

Underlying context

Revenue estimates

Tax revenue

Most of the rest of the world only dreams about growth at that rate, which speaks volumes about the underlying fragility of the Chinese system.

Unfortunately, China s local officials need to excel in the country s growth tournament to get promoted. Schools and hospitals simply do not generate the kind of fast tax revenue and GDP growth needed to outperform political rivals.

The Department of Revenue Tax Division reports regularly on the state's revenue sources.

(a) As tariff barriers decline, it is important to find other revenue sources in place of falling trade tax revenue since, in several African countries, such revenue remains a significant part of total revenue.

Reducing future deficits and reversing the rise in the national debt require raising tax revenue and slowing the growth of government pension and health care programs.

In particular, slow growth and revenue losses, owing to economic liberalization programs, have reduced the scope for fiscal policy, with serious consequences for poverty and destitution.

The challenge facing US politicians after the election will be to find a politically acceptable way to raise that revenue without undermining incentives and economic growth.

Underlying Risk Factors

C. Revenue analysis

In developing countries tariff revenue accounts for 10 20 per cent of government revenue.

The leaflet cheerfully claims that China s shift to a low carbon growth strategy based on the development of renewable energy sources has created jobs, income, and revenue.

As a result of a successful business acquisition drive during 2004, UNOPS expects to achieve revenue growth in 2005. The portfolio will be managed along two tracks.

The Internal Revenue Service (IRS) is the revenue service of the United States federal government.

Local administrations and revenue

Sample sources of revenue

1993 Zambia Revenue Authority

(b) Revenue producing activities

Prime sources of revenue

A distinctive feature of the Chinese growth order is that local governments compete actively against each other for jobs, revenue, investment, and access to fiscal and human resources.

The new breed of emerging market multinational is diversifying its revenue around the world. If growth in these companies home markets slows, they will diversify even more aggressively.

The underlying problem is that Brazil s growth model, which allowed 35 million people to enter the middle class in the last decade, is itself at the brink of exhaustion.

Underlying context 19 26 7

Contribution to public revenue generation

Proceeds from revenue producing activities

This is a table of the total federal tax revenue by state collected by the U.S. Internal Revenue Service.

Broken down in percentage terms, the revenue generated from the project portfolio of services is estimated at 60.1 per cent revenue generated from direct service provision is estimated at 36.5 per cent and revenue from rental and interest represents 3.4 per cent of total projected 2004 revenue.

The salads that you see at McDonald's came from the work they're going to have an Asian salad. At Pepsi, two thirds of their revenue growth came from their better foods.

(d) Reduce the underlying risk factors

Tax revenue is included for comparison.