The Irish Exchequer Statement for the five months ending 31 May 2009 show that the Government has spent €25.6 billion and had an income, from tax and other sources of €15 billion. This leaves an Exchequer deficit of €10.5 billion, financed by borrowings of €8.9 billion and other deposits of €1.6 billion. Interest paid on Government debt amounts to €1.58 billion.
The table below summarises the profile of tax receipts and compares these to Profile of Exchequer Tax Revenue Receipts 2009. The State is €37.2 million ahead of projections in the aftermath of the April 2009 Budget.
Tax Receipts for 5 months to 31 MAY 2009
€ Million | Projected | Actual | + / - |
Customs | 92,000 | 88,280 | -3,720 |
Excise | 1,655,000 | 1,753,832 | 98,832 |
Capital Gains | 202,000 | 189,226 | -12,774 |
Capital Acquisitions Tax | 116,000 | 105,890 | -10,110 |
Stamps | 315,000 | 294,370 | -20,630 |
Income tax | 4,589,000 | 4,634,263 | 45,263 |
Corporation Tax | 1,012,000 | 1,138,985 | 126,985 |
VAT | 5,511,000 | 5,305,559 | -205,441 |
Training and Employment Levy | 831 | ||
Unallocated | 0 | 18,046 | 18,046 |
TOTAL | €13,492,000 | €13,529,282 | 37,282 |
Spending at the Department of Agriculture & Food is €248 million more than this time last year and should be considered in the context of the output of agriculture and fisheries is a mere €3.88 billion, having dropped from €4 billion in 2005.
Health expenditure is €200 million ahead of last year and welfare spending is , predictably, €457 million ahead of this time last year, following steep increases in the Live Register.
One item of expenditure that is noteworthy is the €6.33 million paid to the Leaders of the political parties, pruned by 10% but this is partially offset by the overhead to run the Leinster House enterprise - €367,000 more expensive than last year.
The cost of the local and European elections amount to €8.5 million.
Cumulative Fiscal Progress – 2009
Month | Total Receipts | Total Expenditure | Exchequer Deficit | Borrowing |
Dec 2008 | 43,021,778 | 55,735,598 | -12,713,820 | 30,310,525 |
Jan | 4,281,998 | 5,029,215 | -747,217 | 6,674,212 |
Feb | 6,577,074 | 8,661,834 | -2,084,760 | 6,398,172 |
Mar | 9,433,404 | 13,154,149 | -3,720,745 | 10,234,357 |
Apr | 11,645,341 | 18,961,729 | -7,316,388 | 6,579,469 |
May | 15,090,952 | 25,678,595 | -10,587,643 | 8,987,279 |
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