Written answers
Thursday, 24 October 2013
Department of Finance
Government Deficit
Róisín Shortall (Dublin North West, Independent)
Link to this: Individually | In context | Oireachtas source
90. To ask the Minister for Finance further to a newspaper article (details supplied) if he will provide a detailed explanation on the level of budget adjustment for 2014 and the way this adjustment will be achieved in terms of carry forward, tax adjustments, expenditure adjustments, new savings and so on; and if he will make a statement on the matter. [45560/13]
Michael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source
As I outlined in my Budget Day speech, in order to achieve a deficit of 4.8% of GDP, a total adjustment package of the region €3.1bn was necessary. This comprised €2.5bn in expenditure cuts and tax increases complemented with additional resources/other savings of €0.6bn. A summary table of the adjustment package is outlined as follows.
- | €bn |
---|---|
Expenditure measures | 1.6 |
Current expenditure measures | 1.4 |
Increase in savings from Prior Year Measures | 0.1 |
Capital expenditure measures | 0.1 |
Taxation measures | 0.9 |
Net new measures | 0.4 |
Revenue carryover | 0.5 |
Other | 0.6 |
Total Adjustment Package | 3.1 |
Complementing tax and expenditure measures with additional resources and other savings, some of which may be once off, is consistent with the composition of previous adjustments published in the National Recovery Plan / Budget 2011 and the contribution of additional dividends outlined in Budget 2013.
No comments