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Government Finance Statistics Quarter 2 2023

Non-Financial Accounts

Online ISSN: 2009-6178

CSO statistical release, 20 October 2023, 11am

Revenue

Total government revenue increased by €2 billion compared with Q2 2022. This is a 7% increase over last year. With taxes and social contributions dominating revenue, the growth of €1.6 billion across these headings is the main factor behind the overall increase in the total.

Direct taxes (corporation and income tax) increased by €1 billion; social contributions saw growth of €0.4 billion; indirect taxes (including VAT) were €0.3 billion higher than last year.

	Indirect taxes	Direct taxes	Capital taxes	Social contributions	Investment income	Sales of goods and services	Current transfers	Capital transfers
Q1 2021	7.099	7.004	0.061	3.9	0.041	0.922	0.197	0.13
Q2 2021	6.039	11.868	0.068	4.2	0.287	0.957	0.228	0.124
Q3 2021	8.545	9.159	0.1	4.334	0.098	1.065	0.417	0.295
Q4 2021	7.658	17.652	0.352	4.873	0.052	1.117	0.225	0.163
Q1 2022	8.5	9.57	0.063	4.767	0.018	1.053	0.24	0.142
Q2 2022	6.4	14.507	0.069	4.914	0.18	1.117	0.27	0.182
Q3 2022	9.428	12.6	0.089	5	0.253	1.105	0.303	0.17
Q4 2022	7.35	20	0.393	5.4	0.216	1.208	0.321	0.2
Q1 2023	8.9	11.6	0.06	5.304	0.269	1.094	0.296	0.166
Q2 2023	6.709	15.491	0.06	5.311	0.428	1.11	0.302	0.233

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	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2
Total Revenue					TR	19,361	23,781	24,015	32,133	24,315	27,673	28,942	35,150	27,705	29,643
	Taxes and social contributions					18,066	22,187	22,142	30,577	22,862	25,922	27,105	33,205	25,880	27,571
		Taxes			D2 + D5 + D91	14,167	17,979	17,807	25,704	18,095	21,007	22,130	27,762	20,577	22,259
			Indirect taxes (taxes on production and imports)		D2	7,101	6,042	8,548	7,699	8,461	6,430	9,428	7,350	8,937	6,709
				Taxes on products	D21	6,204	5,235	7,748	6,639	7,580	5,395	8,552	6,343	7,846	5,621
				of which Value-Added Tax	D211	4,355	2,895	5,563	3,829	5,601	3,193	6,381	4,086	5,986	3,465
				Other taxes on production	D29	897	807	800	1,060	881	1,035	875	1,007	1,091	1,088
			Direct taxes		D5	7,004	11,868	9,159	17,652	9,570	14,508	12,613	20,019	11,582	15,491
				Taxes on income, profits and capital gains	D51	6,740	11,633	8,923	17,440	9,317	14,278	12,382	19,813	11,319	15,255
				Other current direct taxes	D59	263	235	235	212	253	231	231	206	263	236
			Capital taxes		D91	61	68	100	352	63	69	89	393	57	60
		Social contributions			D61	3,900	4,208	4,334	4,873	4,767	4,914	4,975	5,443	5,304	5,311
			Actual social contributions		D611 + D613	2,942	3,288	3,428	3,959	3,729	3,892	3,950	4,476	4,264	4,317
				PRSI receipts	D611 + D613(pt)	2,572	2,886	3,020	3,559	3,316	3,473	3,538	3,987	3,835	3,846
				Government employees' pension contributions	D613(pt)	370	402	408	400	413	419	413	489	430	471
			Employers' imputed social contributions		D612	957	920	906	914	1,039	1,023	1,025	967	1,039	995
	Sales of goods and services				P1O	926	954	1,063	1,115	1,053	1,117	1,105	1,208	1,094	1,110
		Sales of market establishments (= market output)			P11	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
		Incidental sales and fees of non-market establishments			P131	920	949	1,057	1,109	1,047	1,112	1,100	1,202	1,088	1,104
	Investment income				D4	42	288	98	53	19	182	259	216	269	428
		Interest (excluding FISIM)			D41	13	-5	22	0	-3	10	53	160	249	284
		Dividends / Other investment income			D42 + D44	11	275	58	35	5	154	188	38	2	126
		Rent of land and subsoil assets			D45	18	18	18	18	18	18	18	18	18	18
	Current transfer revenue				D39 + D7	197	228	417	225	240	270	303	321	296	302
		Subsidies			D39	0	0	0	0	0	0	0	0	0	0
		Other current transfers			D7	197	228	417	225	240	270	303	321	296	302
			Non-life insurance claims		D72	7	7	7	7	7	7	7	7	7	7
			Other Domestic - Current		D7N_S1	188	197	231	191	229	238	272	272	265	255
			From Rest of World - Current		D7N_S2	3	25	179	28	4	25	24	42	24	40
	Capital transfer revenue				D9N	130	124	295	163	142	182	170	200	166	233

Output					P1	11,590	12,105	12,390	12,463	12,722	13,074	13,144	14,251	12,977	13,801
	Market output (sales of market establishments)				P11	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
	Non-market output				P13	11,584	12,100	12,385	12,458	12,716	13,068	13,138	14,245	12,972	13,796
		= Non-market compensation of employees			D1_nonmarket	6,252	6,707	6,864	6,786	6,927	7,083	7,043	7,675	7,180	7,652
			= Total compensation of employees		D1	6,258	6,713	6,870	6,791	6,933	7,089	7,048	7,681	7,186	7,658
			- Compensation of employees of market establishments		D1_market	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
		+ Non-market intermediate consumption			P2_nonmarket	3,921	3,981	4,109	4,261	4,153	4,349	4,459	4,934	4,155	4,507
			= Total intermediate consumption		P2	3,921	3,981	4,109	4,261	4,153	4,349	4,459	4,934	4,155	4,507
			- Intermediate consumption of market establishments		P2_market	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
		+ Non-market consumption of fixed capital			P51c_nonmarket	1,411	1,411	1,411	1,411	1,636	1,636	1,636	1,636	1,636	1,636
			= Total consumption of fixed capital		P51c	1,411	1,411	1,411	1,411	1,636	1,636	1,636	1,636	1,636	1,636
			- Consumption of fixed capital by market establishments		P51c_market	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
		+ Other taxes on production, payable			D29_pay	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

Open in Excel: Government Finance Statistics Quarter 2 2023 Table 2.1 (XLS 15KB)

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Expenditure

At €27.4 billion, total expenditure in Q2 2023 was €1.3 billion more than last year (€26.1 billion).

Social benefits increased by €0.7 billion and there was an additional €0.6 billion on pay (compensation of employees). Interest payments were €0.2 billion higher than last year with the downward trajectory on borrowing costs now reversed.

Current transfers were €0.5 billion lower than last year. However, in Q2 2022 €0.4 billion was paid out to households under the Government's electricity support credit. Subsidy payments were €0.1 billion less than last year. This fall off is mainly because of the final payments under the Employment Wage Subsidy Scheme which occurred in Q2 2022.

	Compensation of employees	Intermediate consumption	Interest	Social benefits	Subsidies	Gross investment in non-financial assets	Current transfers	Capital transfers
Q1 2021	6.258	3.9	0.826	9.4	1.8	1.711	1.379	0.38
Q2 2021	6.713	4	0.824	9.35	1.764	2.03	1.163	0.372
Q3 2021	6.87	4.1	0.814	9.419	1.9	2.29	0.889	0.4
Q4 2021	6.771	4.317	0.828	9.3	1.853	2.669	1.196	0.457
Q1 2022	7.005	4.174	0.754	8.1	1.231	1.931	1.102	0.466
Q2 2022	7.11	4.3	0.784	8.9	0.706	2.377	1.454	0.445
Q3 2022	7.06	4.5	0.8	9.8	0.59	2.733	1.045	0.452
Q4 2022	7.684	5.003	1	10.5	0.7	3.179	1.41	0.525
Q1 2023	7.2	4.17	0.912	8.5	0.584	2.113	1.835	0.535
Q2 2023	7.7	4.5	1.016	9.5	0.618666666666667	2.643	0.965	0.566

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	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2
Total Expenditure					TE	25,584	26,246	26,601	27,458	24,676	26,091	26,930	29,879	25,862	27,449
	Expense					25,313	25,627	25,722	26,200	24,381	25,350	25,833	28,336	25,386	26,442
		Compensation of employees			D1	6,258	6,713	6,870	6,791	6,933	7,089	7,048	7,681	7,186	7,658
			Of which: Related to production of own-use capital assets			6	6	6	6	6	6	6	6	6	6
		Use of goods and services plus taxes payable			P2 + D5 + D29	3,921	3,981	4,109	4,261	4,153	4,349	4,459	4,934	4,155	4,507
			Use of goods and services [Intermediate consumption]		P2	3,921	3,981	4,109	4,261	4,153	4,349	4,459	4,934	4,155	4,507
				Of which: Intermediate consumption of market establishments		0	0	0	0	0	0	0	0	0	0
			Taxes, payable		D5	0	0	0	0	0	0	0	0	0	0
		Depreciation (Consumption of fixed capital)			P51c	1,411	1,411	1,411	1,411	1,636	1,636	1,636	1,636	1,636	1,636
				Of which: Depreciation by market establishments		0	0	0	0	0	0	0	0	0	0
		Interest (excluding FISIM)			D41	826	824	814	828	758	788	829	960	913	952
			Other domestic interest payable		D41_S1	151	296	411	400	107	454	431	553	257	545
			Interest payable to rest of world		D41_S2	675	527	404	428	651	333	398	407	655	407
		Subsidies			D3	1,755	1,790	1,865	1,889	1,222	702	596	730	584	613
			Product subsidies		D31	372	391	423	448	406	425	459	472	395	454
			Other subsidies on production		D39	1,383	1,398	1,442	1,440	817	277	137	258	189	159
		Social benefits			D62 + D632	9,364	9,355	9,376	9,324	8,079	8,887	9,750	10,461	8,542	9,545
			Social benefits in cash		D62	8,041	7,614	6,836	6,925	6,651	6,952	6,949	7,766	6,968	7,590
			Social benefits in kind (via market producers)		D632	1,323	1,741	2,540	2,399	1,428	1,935	2,801	2,695	1,574	1,955
		Other current transfers			D7	1,379	1,163	889	1,196	1,102	1,454	1,045	1,410	1,835	965
			Net non-life insurance premiums		D71	20	20	20	20	21	21	21	21	21	21
			Current international cooperation		D74	96	157	93	133	153	177	92	154	99	89
			Miscellaneous current transfers		D75	331	310	191	97	170	498	170	523	895	87
			VAT and GNI based EU budget contribution		D76	932	676	586	947	758	759	762	712	820	769
				VAT-based EU own resources	D761	98	56	59	71	77	77	77	91	86	82
				GNI-based EU own resources	D762	835	547	490	840	644	644	647	537	682	638
				Miscellaneous EU own resources	D763	0	73	36	36	37	37	37	85	51	48
		Capital transfers			D9	399	391	388	500	498	445	469	525	535	566
			Investment grants		D92	397	372	380	497	494	443	466	525	535	534
			Other capital transfers		D99	2	19	7	3	3	3	3	- 0	0	32
	Net acquisition of non-financial assets				P5 + NP - P51c	271	618	879	1,258	295	741	1,097	1,543	476	1,007
		= Gross investment in non-financial assets			P5 + NP	1,682	2,030	2,290	2,669	1,931	2,377	2,733	3,179	2,113	2,643
			Gross fixed capital formation		P51	1,718	2,065	2,325	2,704	1,906	2,352	2,708	3,154	2,066	2,597
			Net acquisition of stocks		P52	-35	-35	-35	-35	25	25	25	25	47	47
			Net acquisition of unproduced assets		NP	0	0	0	0	0	0	0	0	0	0
		- Consumption of fixed capital			P51c	-1,411	-1,411	-1,411	-1,411	-1,636	-1,636	-1,636	-1,636	-1,636	-1,636
Net expenditure on current goods and services					P3 excl. D632	10,664	11,151	11,328	11,348	11,669	11,956	12,039	13,043	11,884	12,691
	= Output				P1	11,590	12,105	12,390	12,463	12,722	13,074	13,144	14,251	12,977	13,801
	- Sales of goods and services				P11+P12+P131	-926	-954	-1,063	-1,115	-1,053	-1,117	-1,105	-1,208	-1,094	-1,110
			Market output (sales of market establishments)		P11	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
			Incidental sales and fees of non-market establishments		P131	-920	-949	-1,057	-1,109	-1,047	-1,112	-1,100	-1,202	-1,088	-1,104
Final consumption expenditure					P3	11,986	12,892	13,868	13,748	13,097	13,891	14,840	15,738	13,458	14,646
	= Net expenditure on current goods and services				P3 excl. D632	10,664	11,151	11,328	11,348	11,669	11,956	12,039	13,043	11,884	12,691
	+ Social transfers in kind via market producers				D632	1,323	1,741	2,540	2,399	1,428	1,935	2,801	2,695	1,574	1,955
made up of
	Individual consumption (= social transfers in kind)				P31 (= D63)	7,528	8,415	9,719	9,516	8,208	9,127	10,484	10,842	8,541	9,537
		Social transfers in kind (via market producers)			D632	1,323	1,741	2,540	2,399	1,428	1,935	2,801	2,695	1,574	1,955
		Social transfers in kind (provided directly by government)			D631	6,205	6,674	7,179	7,117	6,780	7,191	7,683	8,147	6,967	7,582
	Collective consumption (= actual final consumption of government)				P32	4,458	4,477	4,148	4,232	4,889	4,765	4,356	4,896	4,917	5,109
Total social transfers					D62 + D63	15,569	16,029	16,555	16,441	14,859	16,078	17,433	18,608	15,509	17,127
	Social benefits in cash				D62	8,041	7,614	6,836	6,925	6,651	6,952	6,949	7,766	6,968	7,590
	Social transfers in kind (= individual consumption)				D63	7,528	8,415	9,719	9,516	8,208	9,127	10,484	10,842	8,541	9,537