AUS $

Mr Swan told Saturday AM the Government will lose billions in revenue because of the high value of the Australian dollar. He says profits for Australian exporters will fall and this will have consequences for the Government's tax take."There's no doubt we're going to cop a fairly significant whack to our revenue in the mid-year budget update, that's just the reality of having a higher dollar," he said."The Australia dollar has appreciated by around 15 per cent against the US dollar in recent months. What that does is really hit the profitability of our exporters and as a result of that is reduces companies and resource taxation."Some estimates say the Government's mid-year economic outlook - due within days - will show a $10 billion loss in revenue over the next four years.Mr Swan would not confirm that number, but says the impact of the lost revenue will be significant."None of that alters our determination to continue the budget discipline that we've put in place over the past couple of years and to make sure that our public finances remain the strongest in the developed the world," he said.