Michael McGrath (Cork South Central, Fianna Fail)
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On budget day, as the Deputy knows, we will update the forecast deficit for this year and the following years up to 2025. As she correctly said, the summer economic statement made a forecast for the deficit for the current year of just over €20 billion at 5.1% of the general Government balance. It is fair to acknowledge that we have experienced strong tax receipts across a number of different headings. Tax receipts are running well ahead of forecast. In addition, we have some underspending in the capital programme because of the impact of the public health restrictions during the pandemic. It is fair to acknowledge that the deficit will be better than was forecast in the summer economic statement. The White Paper, which the Deputy knows will be published a number of days in advance of the budget, will update the deficit projection for 2021. We will be doing better than that but I cannot put a precise figure on it at this point.