End of April Exchequer Statement

[David Cochrane]

			1 Jan > 30 Apr 2009	1 Jan > 30 Apr 2010
	

Tax Revenue		10,098,167 		9,005,134

Non-Tax Revenue 	162,084			159,433

Total			10,260,252 		9,164,567


Expenditure

Voted 			(13,775,116) 		(12,991,808)



Non-Voted Non-discretionary Expenditure charged directly on the Central Fund

Sinking Fund		(572,950) 		(617,229)

Other Non-Voted 	(2,340,157) 		(2,487,261)

Total			(16,688,222) 		(16,096,297)


(Deficit) on Current Account

			(6,427,971) 		(6,931,730)
			
Exchequer (Deficit)	(7,316,384) 		(6,960,937)


Source and Application of Funds

Total (Borrowing) / Repayment

			(6,579,469) 		(8,861,151)

Total Increase / (Decrease) in Exchequer Deposits and Other Balances

			(736,919) 		1,900,215
			
Exchequer (Deficit) 	(7,316,384) 		(6,960,937)

Statement in full is available here.

End-April Exchequer Returns

• The Exchequer deficit was €6,961 million at end-April 2010 compared to €7,316 million at end-April 2009. This is broadly in line with expectations and continues to point to the validity of the Budget Day targets.
  
• On a year-on-year basis taxes are €1.1 billion, or 10.8% below the same period last year and net voted expenditure is some €1.3 billion lower.
  
• Tax receipts to end-April are on target, with net voted expenditure down somewhat on profile.

Tax Revenue

• Tax receipts are on target to end-April 2010. Overall €9,005 million in tax receipts were collected by the end of April, against a target of €9,012 million. The end-April year-on-year decline is 10.8%, at end-March it was 15%.
  
• As the economy returns to some positive growth, it is forecast that tax revenues will be just over €31 billion in 2010, a decline of 6% year-on-year. Significant targets remain in the months ahead and tax receipts will continue to be closely monitored.

Voted Expenditure

• Total net voted expenditure at end-April 2010 was €14,362 million, some €1.3 billion or 8.1% below the same period in 2009. The Revised Estimates Volume projected a decline of 1.9% in total net voted expenditure in 2010.
  
• Net voted current expenditure has been reduced from €13,775 million in the first four months of 2009, to €12,992 million in the same period in 2010, a €783 million or 5.7% decrease. This is €183 million or 1.4% below profile.
  
• Net voted capital expenditure to end April 2010 was €1,370 million compared to €1,858 million at end-April 2009. Net voted capital expenditure was €234 million or 14.6% below profile.
  
• The variation against profile in 2010 in respect of net voted expenditure is largely attributable to timing issues. The difference year-on-year is due to the expenditure control decisions taken by the Government and, to a lesser extent, to timing issues.

[absconded]

That doesn't look too rosy, one wonders how this can be tackled at all.

[David Cochrane]

So from the figures...

Gov Revenue falls by €1bn in Q1 2010 compared to Q1 09 - whilst deficit is down by 355m.

[jacko]

how is tax revenue looking viz estimates/projections?

[cozzy121]

Lenihan the liar strikes again!

[hammer]

So deficit is down on 2009 for the first quarter

Happy Days. They did a good job massaging the figures or "deferring" expenditure.

[The_Big_Fellow]

It should be worth pointing out the fear and shock that accompanied these figures this time last years, yet we are down another billion from then.

[Bi ciuin]

So we are payong around 355 million per qtr of our national debt?

How many years will it take to clear all the debt then?

[constitutionus]

this has made the talk radio news now.

stamp duty down 20% CGT up 40% of expectatations

(caution just bearly caught the CGT one so may be a bit off , but definetly in the 40s)

[Sailor]

Not bad - tax receipts on target and expenditure under control.