More commonly the opposite occurs: A boom brings a surge in tax revenues and politicians are anxious to spread the spending far and wide.
Thanks to the commodity boom and rising revenues, governments in many countries have had an easy time of it in the past few years.
These supply the northern government in Khartoum with most of its substantial revenues and help to fund a building and consumer boom in the capital.
Samsung Electronics delivered a yet another stellar performance in Q1 2013, riding the smartphone boom to grow revenues by 17% and operating profits by an even higher 54% over the same period last year.
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Many now see this era as a fools' paradise - during which pretty much everyone had an exaggerated faith in the stability of the economy, such that banks lent too much, many businesses and consumers borrowed too much, and the government fooled itself into thinking that tax revenues flowing in from a debt-fuelled boom would be sustainable.
And bear in mind this is after a huge spending boom coupled with meager tax revenues.
Although relocation costs for crews and equipment are expected to eat into the margin in North America in Q1 2012, the shift will help companies boost revenues in the long term by riding on the oil boom in the Bakken shale.
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"In public, the SNP desperately insist the boom years are ahead, but in private we know they are deeply concerned that oil revenues are volatile, unpredictable and falling, " he said.
Going forward, Las Vegas Sands plans to expand its operations in Cotai, which will boost its casino revenues that is riding the boom of a burgeoning middle class and a growing number of high net worth individuals (HNIs) who love to gamble.
But Stephen Green, an economist at Standard Chartered, says that revenues were inflated in early 2008 by a sharp rise in taxes from the boom in land sales, which has since subsided.
Critics say he should have used more of the revenues to put away for the bad times instead of adding to debt even in boom.
In Labour's first term, the Treasury was consistently too pessimistic about revenues, which were unexpectedly buoyant because of the high incomes and profits generated in the dotcom boom.
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