Oireachtas Joint and Select Committees
Thursday, 3 December 2015
Public Accounts Committee
2014 Annual Report and Appropriation Accounts of the Comptroller and Auditor General
Vote 7 - Office of the Minister for Finance
Chapter 1 - Exchequer Financial Outturn for 2014
Chapter 2 - Government Debt
Chapter 3 - Cost of Bank Stabilisation Measures as at the end of 2014
Finance Accounts 2014
10:00 am
Mr. John McCarthy:
There is nothing one off. It is the fact that consumption in terms of household spending is so strong this year relative to last year. I do not have the nominal number, but in real terms we expect real growth of 3.5% in personal consumer spending for this year, which is very strong. That is feeding directly through into the VAT number. It is also feeding through into the excise numbers, and both of those are pretty much there or thereabouts. One is marginally ahead and one is marginally below.
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