The Committee noted that revenue, as a percentage of GDP, is increasing at a rate of 0.2 per cent per year over the next three years (that is 28.7, 28.9 and 29.1 per cent in the 2011/12, 2012/13 and 2013/14 financial years, respectively). In the same period, expenditure is declining at a rate of 0.4, 0.5 and 0.5, per cent respectively. As revenue increases and expenditure decreases, the budget will remain in deficit albeit declining, until the 2018/19 financial year.