Written answers

Wednesday, 9 November 2005

8:00 pm

Photo of Brian O'SheaBrian O'Shea (Waterford, Labour)
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Question 168: To ask the Minister for Finance if he will make a statement on the Exchequer returns for the first ten months of 2005. [33059/05]

Photo of Brian CowenBrian Cowen (Laois-Offaly, Fianna Fail)
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As the Deputy may be aware, the end-October Exchequer returns are available on my Department's website. The results for the first ten months of 2005 indicate that the public finances remain in a sound position.

Tax revenue, at €29.422 billion, is €1,240 million ahead of profile for the end of October. Year on year tax receipts were up 8.6% compared to the profiled increase of 4% to the end of October 2005. The main excesses are on VAT, €427 million, stamps €423 million, income tax, including receipts from Revenue's special investigations, €314 million, and excise, €171 million, while corporation tax is €209 million below profile.

Overall Exchequer issues for net voted spending were €27,466 million at the end of October compared to €25,429 million for the same period last year, thus indicating an increase of 8%. This was €1,095 million below the expenditure profile published in January and compares to the planned increase of 11% for the year as a whole provided for in the Revised Estimates.

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