Exchequer surplus of €217 million recorded

Exchequer surplus of €217 million recorded

An Exchequer surplus of €217 million was recorded to the end of February 2018, according to figures released by the Department of Finance.

This compares to a surplus of €587 million in the same period last year.

The €370 million year-on-year reduction in the Exchequer balance was primarily due to an increase in current expenditure (both voted and non-voted expenditure), which was somewhat offset by increased tax revenue.

Tax revenues of €7,814 million were collected to end-February 2018, an increase of 3.0% or €228 million on February 2017.

This is broadly in line with profile, off marginally by 0.5%.

Overall, total net voted expenditure to end-February 2018, at €7,361 million, was 1.3% or €100 million below profile, but up €349 million or 5% in year-on-year terms.

Combined receipts from non-tax revenue and capital receipts of €1,051 million were up 2.1% (€22 million) year-on-year.

Non-voted expenditure of €1,286 million was up year-on-year by 36.9% or €347 million.

This year-on-year increase was driven by a higher EU budget contribution due to both Ireland’s increased share of EU budget obligations and a timing issue associated with the call up of funds by the Commission.

Digital Desk

More in this Section

Belfast port workers don 5G headsets to live stream work to baseBelfast port workers don 5G headsets to live stream work to base

IDA Ireland: Era of optimism with growth evident in all sectorsIDA Ireland: Era of optimism with growth evident in all sectors

Global computer giant in recruitment mode Global computer giant in recruitment mode

Judge grants union motion to put stay on Ryanair action against itJudge grants union motion to put stay on Ryanair action against it


Lifestyle

This early 19th-century table is one of a number of Irish lots at Sotheby’s Style, Furniture and Ceramics sale in New York on Thursday (October 24).Irish lots poised to add bite to Big Apple sale

Something for all at Hegarty’s auction in Bandon, says Des O’SullivanSomething for all at Hegarty’s auction in Bandon

Des O’Sullivan gives a preview of the Irish selection on offer at two sales in DublinPreview of the Irish selection on offer at two sales in Dublin

Sunday Lunch costs €45 per person and includes several set courses but with a choice of mains.Restaurant Review: Bastible Restaurant, Dublin

More From The Irish Examiner