Tax Collected Is Less Than Revenue Needed For Budget Expenditure

 

As you can see from the table, the amount of taxes collected is less than what is needed for each year's budget.

The shortfall is made up for by net investment returns from our reserves.

So there is no hoarding of reserves. The NIR (net investment returns) Framework allows the government to treat up to 50% of net investment returns from reserves as revenue for government spending. The other 50% is used to hedge the reserves against inflation.