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THE GOVERNMENT’S RECEIPTS from income tax have risen by more than 25 per cent since last year – primarily due to the new Universal Social Charge introduced in January.
However, Ireland’s total Exchequer deficit rocketed by €7.3billion, or more than 50 per cent, since this time in 2010. This is largely down to payments of more than €10billion made to Irish banks. Between January and September, a total of €3.1billion was spent servicing our national debts.
However, Ireland is on track to meet targets set out in the IMF/EU bailout agreement, which contains a complex mechanism by which such figures are adjusted. The government can exclude payouts to restructure banks from its calculation of these targets.
Finance minister Michael Noonan said when banking payments were excluded, the figures showed Ireland was in a better place than last year. “The Exchequer deficit in the period to end-September is over €3 billion lower than it was in the same period last year, excluding the impact of banking related expenditure,” he said. “This shows that real progress is being made in returning our public finances to a more sustainable position.”
According to the latest Exchequer figures released today, total tax receipts rose by 8.7 per cent year on year to €24.1billion. This was 0.7 per cent above official targets. However, corporation tax receipts fell by 6.1 per cent.
Total government expenditure rose to €47.8billion when both current and capital spending are taken into account. However, spending fell in almost all government departments except for Social Protection (up 12 per cent), Finance (up 4.8 per cent), Jobs (up 7.3 per cent) and Communications, Energy and Natural Resources (up 6.5 per cent).
Minister for Public Expenditure Brendan Howlin said the figures reflected “tight control” of public spending. “It is clear that we are now reducing expenditure, increasing our revenues and aligning the two more closely, as we must continue to do over the coming years,” he said.
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It’s time to act across the EU, here too especially. We can’t handle a pandemic. That much we know. It’s not tourist season, we can still act in time to reduce exposure while minimising hassle.
Flights to and from affected areas should be cancelled for a few weeks.
@Perlum Sprite: We handled the last pandemic in 2009 didn’t we?
@David Garland: the mortality rate for that pandemic was between 0.1% and 0.7%. The mortality rate for this virus while not finally established is multiples of that, maybe 10 times higher. You’re comparing apples and oranges.
@Connoroconner: Im not comparing anything.. I’m sure the Irish health service is well equipped to deal with whatever cases we’ll have. Plus if it does hit it will be outside our own flu season which means the hospitals will have a better chance to deal with it..
@David Garland: Give it a rest. It seems that no matter how many times it’s pointed out to you that this not a flu and is many orders of magnitude worse than any flu in every way, you persist with making unfounded comparisons.
@Paraic: What unfounded comparisons? 400,000 died in the last pandemic in 2009.. So far this virus/flu has killed less than 3,000. What don’t you understand about my figures?? They’re facts!
Don’t worry about it. SF have promised to cure it if they get into government.
@Nioe: How often do you dream of Mary Lou?
@Nioe: Harris has it sorted you’ll be fine.
They wont close EU borders as they are too worried about adverse effects on the economy. Money taking priority over people’s health again
Its nearly here :-\
@xDemo17: It doesn’t travel alpahabetically!
@Diarmaid Mac Aonghusa: That is funny lol
It would put the shites up ya. Has it only killed those with underlying health problems so far?
It is probably the will of Allah
People really need to tone down the scare-mongering.
The first case of Rubella in decades here is of far more serious concern
have your say