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Government Finance Statistics Quarter 1 2022

Non-Financial Accounts

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Revenue

Total revenue of general government increased to €24.2 billion in Q1 2022, €4.9 billion (25.6%) higher than the €19.2 billion received in Q1 2021. Taxes and social contributions make up more than 94% of general government revenue. This quarter these categories increased by €4.8 billion, almost the entirety of the year-on-year increase, to reach €22.8 billion. VAT increased by €1.2 billion; taxes on income, profits and capital gains increased by €2.7 billion (mainly due to increased receipts from income tax and corporation tax); and social contributions, mainly PRSI receipts, increased by €0.8 billion.

	Indirect taxes	Direct taxes	Capital taxes	Social contributions	Investment income	Sales of goods and services	Current transfers	Capital transfers
Q1 2020	5.712	6.882	0.053	3.942	0.038	1.013	0.15	0.099
Q2 2020	4.624	10.102	0.053	3.424	0.861	0.863	0.178	0.111
Q3 2020	7.212	7.075	0.096	3.641	0.146	1.002	0.194	0.113
Q4 2020	6.175	13.233	0.303	4.339	0.065	1.014	0.177	0.213
Q1 2021	7.147	7.003	0.061	3.793	0.041	0.887	0.19	0.107
Q2 2021	6.099	11.867	0.068	4.103	0.287	0.914	0.22	0.099
Q3 2021	8.602	9.155	0.1	4.232	0.098	1.019	0.409	0.27
Q4 2021	7.715	17.652	0.352	4.797	0.052	1.054	0.218	0.151
Q1 2022	8.532	9.658	0.063	4.549	0.018	0.977	0.252	0.1

Table 2.1 General Government; detailed classification of revenue and output

Table 2.1 General Government: detailed classification of revenue and output
																		€million
Description					ESA2010 code	2019 Q1	2019 Q2	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1
Total Revenue					TR	18,887	21,677	20,542	27,016	17,890	20,218	19,479	25,519	19,229	23,659	23,885	31,992	24,150
	Taxes and social contributions					17,564	19,005	18,869	25,086	16,589	18,204	18,024	24,050	18,004	22,138	22,089	30,517	22,803
		Taxes			D2 + D5 + D91	13,590	15,136	15,063	20,792	12,647	14,780	14,383	19,711	14,211	18,035	17,857	25,719	18,253
			Indirect taxes (taxes on production and imports)		D2	7,305	5,727	7,783	6,696	5,712	4,624	7,212	6,175	7,147	6,099	8,602	7,715	8,532
				Taxes on products	D21	6,349	4,900	6,921	5,733	4,819	4,058	6,581	5,403	6,202	5,235	7,745	6,599	7,574
				of which Value-Added Tax	D211	4,413	2,594	4,940	3,323	2,939	2,174	4,609	3,031	4,355	2,898	5,563	3,791	5,602
				Other taxes on production	D29	956	826	861	964	893	566	631	772	945	864	857	1,117	958
			Direct taxes		D5	6,238	9,357	7,199	13,745	6,882	10,102	7,075	13,233	7,003	11,867	9,155	17,652	9,658
				Taxes on income, profits and capital gains	D51	5,961	9,111	6,959	13,528	6,626	9,866	6,828	13,013	6,740	11,633	8,920	17,441	9,402
				Other current direct taxes	D59	277	246	240	217	256	236	247	220	263	234	235	211	257
			Capital taxes		D91	47	52	81	350	53	53	96	303	61	68	100	352	63
		Social contributions			D61	3,975	3,869	3,806	4,295	3,942	3,424	3,641	4,339	3,793	4,103	4,232	4,797	4,549
			Actual social contributions		D611 + D613	3,229	3,152	3,069	3,577	3,143	2,642	2,840	3,577	2,922	3,267	3,406	3,956	3,671
				PRSI receipts	D611 + D613(pt)	2,901	2,803	2,743	3,224	2,799	2,292	2,505	3,201	2,572	2,886	3,020	3,559	3,283
				Government employees' pension contributions	D613(pt)	329	349	326	353	345	350	336	376	350	381	387	397	388
			Employers' imputed social contributions		D612	745	717	737	718	799	783	800	762	871	836	825	841	878
	Sales of goods and services				P1O	1,051	1,212	1,219	1,428	1,013	863	1,002	1,014	887	914	1,019	1,054	977
		Sales of market establishments (= market output)			P11	0	0	0	0	0	0	0	0	0	0	0	0	0
		Imputed sales related to production of own-use capital assets (= output for own final use)			P12	6	6	6	6	6	6	6	6	6	6	6	6	6
		Incidental sales and fees of non-market establishments			P131	1,045	1,206	1,214	1,422	1,007	858	996	1,008	881	908	1,014	1,049	971
	Investment income				D4	51	1,227	111	190	38	861	146	65	41	287	98	52	18
		Interest (excluding FISIM)			D41	27	32	26	26	10	15	1	18	13	-5	22	0	-4
		Dividends / Other investment income			D42 + D44	7	1,176	67	146	11	829	128	30	11	275	58	35	5
		Rent of land and subsoil assets			D45	18	18	18	18	18	18	18	18	18	18	18	18	18
	Current transfer revenue				D39 + D7	111	121	219	197	150	178	194	177	190	220	409	218	252
		Subsidies			D39	0	0	0	0	0	0	0	0	0	0	0	0	0
		Other current transfers			D7	111	121	219	197	150	178	194	177	190	220	409	218	252
			Non-life insurance claims		D72	4	4	4	4	4	4	4	4	4	4	4	4	4
			Other Domestic - Current		D7N_S1	104	113	147	105	143	152	186	145	183	192	226	186	223
			From Rest of World - Current		D7N_S2	3	4	68	88	3	22	3	28	3	24	179	28	25
	Capital transfer revenue				D9N	109	113	124	116	99	111	113	213	107	99	270	151	100

Output					P1	9,799	10,219	10,437	10,636	10,342	11,167	11,377	11,906	11,521	11,886	12,421	12,645	11,961
	Market output (sales of market establishments)				P11	0	0	0	0	0	0	0	0	0	0	0	0	0
	Output for own final use				P12	6	6	6	6	6	6	6	6	6	6	6	6	6
	Non-market output				P13	9,793	10,214	10,432	10,631	10,337	11,161	11,371	11,901	11,515	11,880	12,415	12,639	11,955
		= Non-market compensation of employees			D1_nonmarket	5,786	5,989	5,811	6,088	6,072	6,162	6,024	6,549	6,232	6,687	6,844	6,765	6,853
			= Total compensation of employees		D1	5,791	5,995	5,817	6,094	6,078	6,168	6,029	6,555	6,237	6,693	6,850	6,771	6,858
			- Compensation of employees of market establishments		D1_market	0	0	0	0	0	0	0	0	0	0	0	0	0
			- Compensation related to production of own-use capital assets		D1_own-use	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6
		+ Non-market intermediate consumption			P2_nonmarket	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,864	3,774	4,152	4,455	3,684
			= Total intermediate consumption		P2	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,864	3,774	4,152	4,455	3,684
			- Intermediate consumption of market establishments		P2_market	0	0	0	0	0	0	0	0	0	0	0	0	0
			- Intermediate consumption related to production of own-use capital assets		P2_own-use	0	0	0	0	0	0	0	0	0	0	0	0	0
		+ Non-market consumption of fixed capital			P51c_nonmarket	1,189	1,189	1,189	1,189	1,264	1,264	1,264	1,264	1,419	1,419	1,419	1,419	1,419
			= Total consumption of fixed capital		P51c	1,189	1,189	1,189	1,189	1,264	1,264	1,264	1,264	1,419	1,419	1,419	1,419	1,419
			- Consumption of fixed capital by market establishments		P51c_market	0	0	0	0	0	0	0	0	0	0	0	0	0
			- Consumption of fixed capital related to production of own-use capital assets		P51c_own-use	0	0	0	0	0	0	0	0	0	0	0	0	0
		+ Other taxes on production, payable			D29_pay	0	0	0	0	0	0	0	0	0	0	0	0	0
		- Other subsidies on production, receivable			D39_rec	0	0	0	0	0	0	0	0	0	0	0	0	0

Open in Excel: Government Finance Statistics Quarter 1 2022 Table 2.1 (XLS 15KB)

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Expenditure

On the expenditure side of the account, at €23.9 billion, Q1 2022 was €1.7 billion lower than the level of expenditure in Q1 2021 which was €25.6 billion. There was a large reduction in expenditure on social benefits, which decreased by €1.7 billion. This was driven almost entirely by the reduction in expenditure on Pandemic Unemployment Payments.

Compensation of employees increased to €6.9 billion from €6.2 billion in Q1 2021, an increase of €0.6 billion. Intermediate consumption showed a reduction of €0.2 billion, while gross fixed capital formation showed an increase of €0.5 billion. Current transfer payments showed a decrease of €0.3 billion and capital transfers a decrease €0.1 billion.

Direct spending on COVID-19 measures amounted to approximately €1.5 billion this quarter. The main elements of this expenditure were:

Employment Wage Subsidy Scheme €0.7 billion;
Pandemic Unemployment Payment €0.2 billion;
COVID-19 enhanced Illness Benefit €0.1 billion;
COVID-19 related health expenditure €0.4 billion.

	Compensation of employees	Intermediate consumption	Interest	Social benefits	Subsidies	Gross investment in non-financial assets	Current transfers	Capital transfers
Q1 2020	6.078	3.001	1.037	7.642	0.551	2.075	0.976	0.387
Q2 2020	6.168	3.735	0.948	10.196	2.271	2.062	1.166	0.426
Q3 2020	6.029	4.084	0.974	9.491	1.814	2.528	0.826	0.358
Q4 2020	6.555	4.088	0.87	10.264	1.785	2.05	1.062	0.626
Q1 2021	6.237	3.864	0.826	9.533	1.664	1.631	1.381	0.478
Q2 2021	6.693	3.774	0.823	9.373	1.694	2.04	1.155	0.448
Q3 2021	6.85	4.152	0.814	9.371	1.763	2.288	0.854	0.222
Q4 2021	6.771	4.455	0.828	9.278	1.752	2.694	1.409	0.689
Q1 2022	6.858	3.684	0.79	7.841	1.157	2.084	1.122	0.334

Table 2.2 General Government; detailed classification of expenditure and consumption

Table 2.2 General Government: detailed classification of expenditure and consumption
																		€million
Description					ESA2010 code	2019 Q1	2019 Q2	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1
Total Expenditure					TE	20,848	20,811	21,609	23,271	21,746	26,971	26,104	27,299	25,615	26,001	26,315	27,875	23,871
	Expense					19,991	20,033	20,948	22,381	20,935	26,173	24,840	26,513	25,402	25,380	25,446	26,600	23,205
		Compensation of employees			D1	5,791	5,995	5,817	6,094	6,078	6,168	6,029	6,555	6,237	6,693	6,850	6,771	6,858
			Of which: Related to production of own-use capital assets			6	6	6	6	6	6	6	6	6	6	6	6	6
		Use of goods and services plus taxes payable			P2 + D5 + D29	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,864	3,774	4,152	4,455	3,684
			Use of goods and services [Intermediate consumption]		P2	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,864	3,774	4,152	4,455	3,684
				Of which: Intermediate consumption of market establishments		0	0	0	0	0	0	0	0	0	0	0	0	0
			Taxes, payable		D5	0	0	0	0	0	0	0	0	0	0	0	0	0
		Depreciation (Consumption of fixed capital)			P51c	1,189	1,189	1,189	1,189	1,264	1,264	1,264	1,264	1,419	1,419	1,419	1,419	1,419
				Of which: Depreciation by market establishments		0	0	0	0	0	0	0	0	0	0	0	0	0
		Interest (excluding FISIM)			D41	1,200	1,226	1,117	1,080	1,037	948	974	870	826	823	814	828	790
			Other domestic interest payable		D41_S1	397	432	360	431	481	421	501	412	151	296	411	400	140
			Interest payable to rest of world		D41_S2	803	793	757	650	557	527	474	458	675	527	404	428	651
		Subsidies			D3	413	434	459	601	551	2,271	1,814	1,785	1,664	1,694	1,763	1,752	1,157
			Product subsidies		D31	259	281	305	317	356	389	380	375	319	334	360	383	324
			Other subsidies on production		D39	154	153	154	284	195	1,882	1,434	1,410	1,345	1,360	1,403	1,369	833
		Social benefits			D62 + D632	7,121	7,241	7,850	8,623	7,642	10,196	9,491	10,264	9,533	9,373	9,371	9,278	7,841
			Social benefits in cash		D62	6,001	5,787	5,737	6,629	6,435	8,626	7,228	8,122	8,228	7,659	6,894	7,129	6,534
			Social benefits in kind (via market producers)		D632	1,120	1,454	2,113	1,994	1,207	1,570	2,263	2,142	1,305	1,714	2,477	2,149	1,307
		Other current transfers			D7	1,161	575	861	749	976	1,166	826	1,062	1,381	1,155	854	1,409	1,122
			Net non-life insurance premiums		D71	13	13	13	13	13	13	13	13	21	21	21	21	18
			Current international cooperation		D74	113	112	127	168	86	168	130	115	96	157	93	133	153
			Miscellaneous current transfers		D75	183	179	177	238	159	410	335	240	332	302	156	309	234
			VAT and GNI based EU budget contribution		D76	851	271	543	330	718	575	348	694	932	676	585	947	717
				VAT-based EU own resources	D761	109	54	69	46	91	77	48	59	98	56	59	71	77
				GNI-based EU own resources	D762	742	217	475	284	626	498	300	635	835	547	459	840	602
				Miscellaneous EU own resources	D763	0	0	0	0	0	0	0	0	0	73	67	36	37
		Capital transfers			D9	297	338	224	691	387	426	358	626	478	448	222	689	334
			Investment grants		D92	291	333	219	686	387	408	358	610	456	431	211	676	324
			Other capital transfers		D99	6	5	5	5	0	17	0	16	22	17	11	13	9
	Net acquisition of non-financial assets				P5 + NP - P51c	858	779	661	890	811	799	1,264	786	212	621	869	1,275	665
		= Gross investment in non-financial assets			P5 + NP	2,047	1,968	1,850	2,080	2,075	2,062	2,528	2,050	1,631	2,040	2,288	2,694	2,084
			Gross fixed capital formation		P51	2,032	1,953	1,975	2,065	2,060	2,047	2,513	2,035	1,616	2,025	2,273	2,679	2,069
			Net acquisition of stocks		P52	15	15	15	15	15	15	15	15	15	15	15	15	15
			Net acquisition of unproduced assets		NP	0	0	-140	0	0	0	0	0	0	0	0	0	0
		- Consumption of fixed capital			P51c	-1,189	-1,189	-1,189	-1,189	-1,264	-1,264	-1,264	-1,264	-1,419	-1,419	-1,419	-1,419	-1,419
Net expenditure on current goods and services					P3 excl. D632	8,748	9,007	9,218	9,208	9,330	10,303	10,375	10,893	10,634	10,972	11,401	11,591	10,984
	= Output				P1	9,799	10,219	10,437	10,636	10,342	11,167	11,377	11,906	11,521	11,886	12,421	12,645	11,961
	- Sales of goods and services				P11+P12+P131	-1,051	-1,212	-1,219	-1,428	-1,013	-863	-1,002	-1,014	-887	-914	-1,019	-1,054	-977
			Market output (sales of market establishments)		P11	0	0	0	0	0	0	0	0	0	0	0	0	0
			Output for own final use		P12	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6
			Incidental sales and fees of non-market establishments		P131	-1,045	-1,206	-1,214	-1,422	-1,007	-858	-996	-1,008	-881	-908	-1,014	-1,049	-971
Final consumption expenditure					P3	9,868	10,461	11,331	11,202	10,536	11,874	12,638	13,034	11,939	12,686	13,879	13,740	12,292
	= Net expenditure on current goods and services				P3 excl. D632	8,748	9,007	9,218	9,208	9,330	10,303	10,375	10,893	10,634	10,972	11,401	11,591	10,984
	+ Social transfers in kind via market producers				D632	1,120	1,454	2,113	1,994	1,207	1,570	2,263	2,142	1,305	1,714	2,477	2,149	1,307
made up of
	Individual consumption (= social transfers in kind)				P31 (= D63)	6,605	7,033	7,617	7,530	6,703	7,764	8,855	8,941	7,533	8,332	9,717	9,316	7,719
		Social transfers in kind (via market producers)			D632	1,120	1,454	2,113	1,994	1,207	1,570	2,263	2,142	1,305	1,714	2,477	2,149	1,307
		Social transfers in kind (provided directly by government)			D631	5,486	5,579	5,504	5,536	5,496	6,194	6,593	6,799	6,228	6,618	7,240	7,167	6,412
	Collective consumption (= actual final consumption of government)				P32	3,262	3,429	3,714	3,673	3,833	4,110	3,782	4,093	4,406	4,354	4,162	4,423	4,572
Total social transfers					D62 + D63	12,606	12,820	13,354	14,159	13,138	16,390	16,084	17,064	15,761	15,991	16,611	16,445	14,253
	Social benefits in cash				D62	6,001	5,787	5,737	6,629	6,435	8,626	7,228	8,122	8,228	7,659	6,894	7,129	6,534
	Social transfers in kind (= individual consumption)				D63	6,605	7,033	7,617	7,530	6,703	7,764	8,855	8,941	7,533	8,332	9,717	9,316	7,719