- Tax revenues are up 1.5% on profile and 5.7% on a year on year comparison while Gross voted expenditure down 1.1% on profile and expenditure on the provision of services to the public is up 1.8% year-on-year.
- Revenue and Expenditure results for the period to the end of September make it clear that the public finances remain on target to achieve revised 2016 forecast, of a general government deficit of 0.9 percent of GDP, as set out in the Summer Economic Statement.
- The Exchequer has recorded a deficit of €25 million and this represents a year-on-year improvement of €79 million on 2015.
Commenting on the end-Quarter 3 2016 Exchequer Returns Minister for Finance Michael Noonan T.D. said: ‘The taxes collected and expenditure on vital public services show that the Government’s prudent planning of our resources is working well. Each of the main taxes are performing as expected. These improved Exchequer results together with today’s revised unemployment figure of 7.9% shows how Ireland is growing in resilience. We should guard this improvement and be prepared for external shocks so that we can all continue to enjoy the benefits of our recent hard work’.
“In advance of next week’s Budget announcements, my Department will publish the White Paper on Friday the 7th of October.”
Commenting on the Q3 returns, the Minister for Public Expenditure and Reform, Paschal Donohoe T.D. said: ‘The latest figures indicate that spending is being managed by Departments broadly in line with expectation, with overall expenditure on delivering public services and investing in infrastructure just slightly below profile. At this stage – three quarters the way through the year – 73% of Departmental allocations have been spent and Ministers and Departments are well aware of the importance of managing the delivery of public services within their annual allocations. Prudent management of our finances and a sensible approach to spending are key to ensuring that we can deliver a fair society supported by a strong economy. Next week’s Budget will build on that’.
Ends