Paschal Donohoe (Dublin Central, Fine Gael) | Oireachtas source

No. Let us be clear. The question the Deputy put to me, which is the question I will answer initially - I will go on to clarify - reads: "To ask the Minister for Finance if he will outline Exchequer returns and tax receipts for January 2025 ... " That is the question that was put to me, and I will answer it. I am happy then to elaborate beyond that on the further points the Deputy has made.

The Exchequer returns that were published last week show a broad continuation of trends observed over the course of the past few years, with the public finances - at least in headline terms - in a relatively healthy position. Tax revenues of €8.4 billion were collected in January, 7.2% up on the same month last year. When one-off revenues arising from the Court of Justice of the European Union ruling of 10 September 2024 are included, our tax revenues in January amounted to over €10 billion. Income tax and VAT recorded steady growth in January, signalling the overall strength of our economy.

On the other side of the equation, total gross voted expenditure to the end of January amounted to €9.2 billion, an increase of 22.7% on the same month a year ago. Taking into account other factors such as non-tax revenue and non-voted expenditure, an underlying surplus of €1.8 billion was recorded for January. This rises to €3.6 billion if the Court of Justice of the European Union receipts are included. This is not a source of complacency. Much of the budget surplus at present reflects the strength of corporation tax revenues, which are heavily concentrated among a small number of firms and sectors.

See this speech in context