Overall tax debt sat at $9.4 billion, of which Inland Revenue said 62 percent, or $5.9b, was collectable. Total tax debt was less than $6b in 2023. Simplicity chief economist Shamubeel Eaqub said it was noticeable that many insolvency requests were now initiated by Inland Revenue. "Forecasts indicate that the ratio of tax debt to revenue will continue to rise in the near term. This is broadly consistent with trends observed across OECD countries, where prolonged economic pressures have contributed to higher levels of tax debt."