Exchequer records €38m surplus, health spending ahead of expected figure

The Finance Minister Paschal Donohoe will have some extra leeway in the Budget.

The Exchequer recorded a surplus of €38m at the end of September, according to new figures.

Corporation tax receipts are 10.6% ahead of estimates.

However, health spending is around 1.5% higher than what was expected.

Mr Donohoe said: “All major tax heads continue to perform strongly, with a cumulative total of €40.8 billion receipts in the year to end-September, an increase of 8.7% on the corresponding period of last year and slightly ahead of target.

"On the spending side, gross voted expenditure at €47.8 billion is currently being managed within targets and, with a year-on-year growth of 6.6% compared to the same period last year, reflects the Government’s commitment to steady and sustainable improvements in public services.

“The strong fiscal performance in the first nine months of the year reflects an economy that is continuing to grow at a robust pace and shows that we are in a good position to deal with the challenges ahead, including Brexit. It is paramount that we continue to build on this work, including through continued careful management of expenditure and the public finances generally.’”

Minister Donohoe went on to say that the Budget White Paper will be published later this week and it will set out the expected expenditure and revenue for next year.

He said: "We are currently on track to meet our fiscal targets for 2019, providing a stable platform for Budget 2020."