Paschal Donohoe (Dublin Central, Fine Gael)
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Question 99: To ask the Minister for Finance the total tax revenue expected for 2010 and 2011; and if he will supply in tabular form the value, in gross spending and percentage terms of this revenue going into servicing the national debt, paying for public services and any costs associated with supporting the banking system; and if he will make a statement on the matter. [19693/11]

Michael Noonan (Limerick City, Fine Gael)
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Tax revenue in 2010 amounted to €31.8 billion. Tax revenue in 2011 is estimated at €34.9 billion. The Deputy should be aware that tax revenues are generally not assigned to particular areas of expenditure but rather are available, along with other sources of revenue such as non-tax revenue, capital receipts and Exchequer borrowing, to fund overall expenditure.

* figure to end-June

Notes

1 The National Treasury Management Agency (NTMA) reports total national debt servicing costs in 2010 at €4.2 billion. The April Stability Programme Update (SPU) projected total 2011 national debt servicing expenditure at some €6.2 billion, including €0.6 billion in national debt interest expenditure sourced from the Capital Services Redemption Account (CSRA).

2 The outturn for total gross voted Government expenditure in 2010 is estimated at €60.5 billion. The February 2011 Revised Estimates Volume (REV) estimated total gross voted Government expenditure at €57.5 billion in 2011. A new REV for 2011, updated for the restructuring of Departmental responsibilities, the Jobs Initiative and certain other minor technical adjustments, will be published shortly.

3 In 2010, €30.85 billion was committed to be provided to Anglo Irish Bank, Irish Nationwide Building Society (INBS) and Educational Building Society (EBS) by way of Promissory Note, the terms of which provide, inter alia, that 10 per cent shall be paid to the Note holder each year. The first such payments, amounting to €3.085 billion, were made to the institutions in the first half of 2011. However, there was no Exchequer expenditure associated with these Promissory Notes in 2010.

In 2010 also, the Exchequer provided €625 million to EBS by way of a special investment share and €100 million to INBS by way of a special investment share. This method of investment gave the State extensive powers and full economic ownership of the two building societies.

It should also be noted that in 2010, the National Pensions Reserve Fund (NPRF) injected a further €3.7 billion in capital into AIB. As this injection was sourced from the NPRF, it did not impact on Exchequer spending in 2010. In addition, the recent banking stress tests carried out by the Central Bank identified an additional €24 billion in support to the banking sector as being required, including €3 billion of funds which take the form of contingent capital. However, it is anticipated that mitigating actions, such as burden sharing, will mean that up to €5 billion of this €24 billion will not have to be provided by the State, with €10 billion of the State's contribution being sourced from the National Pensions Reserve Fund and the balance funded by the Exchequer.