Brian O'Shea (Waterford, Labour)
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Question 94: To ask the Minister for Finance if he will make a statement on the Exchequer returns for the first 11 months of 2005. [39001/05]

Brian Cowen (Laois-Offaly, Fianna Fail)
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I have already issued a press statement regarding the end of November Exchequer returns, which is available on my Department's website. The results for the first 11 months of the year indicate that the public finances remain in a sound position.

Tax Revenue, at €36,879 million, was just over €1.7 billion or 4.9% ahead of profile at end November. Year on year tax receipts were up 10.7% compared with the profiled increase of 5.4% for the year as a whole. The main excesses were on VAT, €504 million, stamp duties, €503 million, capital gains tax, €371 million, and excise, €177 million. Income tax, excluding the impact of one-off receipts from Revenue's special investigations, was broadly on target while corporation tax was €273 million below profile.

Overall Exchequer issues for net voted spending was €30,559 million at end November compared to €28,398 million for the same period last year, an increase of 7.6%. This was below the estimated, Revised Estimates Volume, increase of 11.3% net for the year as a whole. At end November, the Exchequer balance showed a surplus of €2,959 million. Taking account of anticipated developments in December and as indicated in my budget last week, an Exchequer deficit of €852 million is now expected for 2005 compared to a forecast deficit of €2,988 million at the start of the year. This is an improvement of over €2.1 billion for the Exchequer balance.