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Government Finance Statistics Quarter 3 2021

Non-Financial Accounts

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Revenue

Total revenue of general government increased by over €3.4 billion (17.5%), from €19.8 billion in Q3 2020 to €23.2 billion in Q3 2021 and has exceeded the pre-pandemic level recorded in Q3 2019. Taxes and social contributions make up more than 93% of general government revenue. This quarter these categories increased by €3.3 billion, compared to Q3 2020, to reach €21.6 billion. VAT increased by €0.7 billion; taxes on income, profits and capital gains increased by €2.1 billion (mainly due to increased receipts from income tax and corporation tax); and social contributions, mainly PRSI receipts, increased by €0.1 billion.

	Indirect taxes	Direct taxes	Capital taxes	Social contributions	Investment income	Sales of goods and services	Current transfers	Capital transfers
Q1 2020	5.586	6.872	0.053	3.796	0.038	1.059	0.149	0.099
Q2 2020	5.313	10.147	0.053	3.38	0.87	0.882	0.178	0.111
Q3 2020	7.269	7.148	0.096	3.772	0.146	1.025	0.193	0.113
Q4 2020	6.049	13.399	0.303	4.022	0.065	1.041	0.176	0.213
Q1 2021	7.066	7.108	0.061	3.984	0.041	0.898	0.188	0.1
Q2 2021	6.178	11.904	0.068	3.955	0.287	0.91	0.218	0.1
Q3 2021	8.456	9.209	0.1	3.841	0.098	0.999	0.407	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	2018 Q1	2018 Q2	2018 Q3	2018 Q4	2019 Q1	2019 Q2	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3
Total Revenue					TR	17,903	20,225	18,869	26,077	18,879	21,651	20,519	27,059	17,653	20,934	19,761	25,268	19,447	23,619	23,209
	Taxes and social contributions					16,424	17,622	17,211	23,918	17,557	18,980	18,846	25,129	16,307	18,893	18,285	23,774	18,220	22,105	21,606
		Taxes			D2 + D5 + D91	12,785	14,088	13,715	19,961	13,617	15,147	15,076	20,838	12,511	15,514	14,513	19,751	14,236	18,150	17,765
			Indirect taxes (taxes on production and imports)		D2	6,784	5,247	7,380	6,332	7,332	5,734	7,754	6,700	5,586	5,313	7,269	6,049	7,066	6,178	8,456
				Taxes on products	D21	5,832	4,422	6,578	5,318	6,376	4,908	6,893	5,737	4,692	4,747	6,638	5,277	6,158	5,252	7,536
				of which Value-Added Tax	D211	4,090	2,416	4,619	3,050	4,440	2,602	4,912	3,327	2,805	2,269	4,659	2,898	4,316	2,925	5,394
				Other taxes on production	D29	953	824	803	1,014	956	826	861	964	893	566	631	772	908	926	920
			Direct taxes		D5	5,967	8,789	6,248	13,283	6,238	9,360	7,241	13,787	6,872	10,147	7,148	13,399	7,108	11,904	9,209
				Taxes on income, profits and capital gains	D51	5,689	8,539	6,009	13,055	5,961	9,114	7,001	13,570	6,615	9,909	6,900	13,178	6,846	11,669	8,974
				Other current direct taxes	D59	278	250	240	228	277	246	240	217	258	238	249	221	263	234	235
			Capital taxes		D91	34	52	86	346	47	52	81	350	53	53	96	303	61	68	100
		Social contributions			D61	3,639	3,534	3,495	3,957	3,940	3,833	3,770	4,291	3,796	3,380	3,772	4,022	3,984	3,955	3,841
			Actual social contributions		D611 + D613	3,013	2,897	2,860	3,314	3,250	3,172	3,089	3,630	3,070	2,670	3,045	3,333	3,257	3,248	3,158
				PRSI receipts	D611 + D613(pt)	2,659	2,537	2,501	2,951	2,901	2,803	2,743	3,256	2,705	2,300	2,689	2,935	2,890	2,867	2,754
				Government employees' pension contributions	D613(pt)	354	360	359	363	349	369	346	374	365	369	356	398	367	381	404
			Employers' imputed social contributions		D612	626	637	635	643	690	661	681	662	726	710	727	689	727	707	682
	Sales of goods and services				P1O	1,055	1,216	1,224	1,433	1,051	1,212	1,219	1,428	1,059	882	1,025	1,041	898	910	999
		Sales of market establishments (= market output)			P11	0	0	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	5	5	5	5	6	6	6	6	6	6	6	6	6	6	6
		Incidental sales and fees of non-market establishments			P131	1,049	1,211	1,218	1,428	1,045	1,206	1,214	1,422	1,054	876	1,019	1,035	893	904	994
	Investment income				D4	110	1,073	83	267	51	1,227	111	190	38	870	146	65	41	287	98
		Interest (excluding FISIM)			D41	49	38	32	48	27	32	26	26	10	15	1	18	13	-5	22
		Dividends / Other investment income			D42 + D44	32	1,007	23	191	7	1,176	67	146	11	838	128	30	11	275	58
		Rent of land and subsoil assets			D45	28	28	28	28	18	18	18	18	17	17	17	17	17	17	17
	Current transfer revenue				D39 + D7	170	184	219	293	111	121	219	197	149	178	193	176	188	218	407
		Subsidies			D39	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
		Other current transfers			D7	170	184	219	293	111	121	219	197	149	178	193	176	188	218	407
			Non-life insurance claims		D72	4	4	4	4	4	4	4	4	4	4	4	4	4	4	4
			Other Domestic - Current		D7N_S1	89	99	132	88	104	113	147	105	142	151	185	144	181	189	224
			From Rest of World - Current		D7N_S2	76	81	82	200	3	4	68	87	3	22	3	28	3	24	179
	Capital transfer revenue				D9N	145	131	133	165	109	113	124	116	99	111	113	213	100	100	100

Output					P1	9,031	9,365	9,663	9,656	9,729	10,150	10,366	10,565	10,256	11,081	11,291	11,820	11,117	11,231	11,976
	Market output (sales of market establishments)				P11	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
	Output for own final use				P12	5	5	5	5	6	6	6	6	6	6	6	6	6	6	6
	Non-market output				P13	9,026	9,359	9,658	9,651	9,723	10,144	10,360	10,559	10,251	11,076	11,285	11,814	11,111	11,225	11,970
		= Non-market compensation of employees			D1_nonmarket	5,447	5,539	5,526	5,590	5,721	5,925	5,745	6,022	5,992	6,083	5,944	6,469	6,085	6,290	6,683
			= Total compensation of employees		D1	5,453	5,544	5,532	5,596	5,727	5,930	5,750	6,027	5,998	6,088	5,949	6,474	6,091	6,296	6,688
			- Compensation of employees of market establishments		D1_market	0	0	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	-5	-5	-5	-5	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6
		+ Non-market intermediate consumption			P2_nonmarket	2,485	2,727	3,037	2,967	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,768	3,677	4,030
			= Total intermediate consumption		P2	2,485	2,727	3,037	2,967	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,768	3,677	4,030
			- Intermediate consumption of market establishments		P2_market	0	0	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	0	0
		+ Non-market consumption of fixed capital			P51c_nonmarket	1,094	1,094	1,094	1,094	1,184	1,184	1,184	1,184	1,258	1,258	1,258	1,258	1,258	1,258	1,258
			= Total consumption of fixed capital		P51c	1,094	1,094	1,094	1,094	1,184	1,184	1,184	1,184	1,258	1,258	1,258	1,258	1,258	1,258	1,258
			- Consumption of fixed capital by market establishments		P51c_market	0	0	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	0	0
		+ Other taxes on production, payable			D29_pay	0	0	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	0	0

Open in Excel: Government Finance Statistics Quarter 3 2021 Table 2.1 (XLS 16KB)

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Expenditure

On the expenditure side of the account, at €26.1 billion, Q3 2021 was roughly in line with the level of expenditure in Q3 2020 (€26.3 billion). While compensation of employees increased to €6.7 billion from €5.9 billion in Q3 2020, (an increase of €0.7 billion), there were largely offsetting reductions in expenditure on social benefits (decrease of €0.4 billion), interest payments (decrease of €0.2 billion), gross fixed capital formation (decrease of €0.2 billion) and capital transfers (decrease €0.1 billion).

Direct spending on COVID-19 measures amounted to approximately €2.6 billion this quarter. The main elements of this expenditure were:

Employment Wage Subsidy Scheme €1.2 billion;
Pandemic Unemployment Payment €0.6 billion;
COVID-19 related health expenditure €0.6 billion.

	Compensation of employees	Intermediate consumption	Interest	Social benefits	Subsidies	Gross investment in non-financial assets	Current transfers	Capital transfers
Q1 2020	5.998	3.001	1.038	7.308	0.47	2.106	0.979	0.352
Q2 2020	6.088	3.735	0.948	10.511	2.184	2.093	1.171	0.391
Q3 2020	5.949	4.084	0.974	9.859	1.719	2.565	0.82	0.323
Q4 2020	6.474	4.088	0.87	10.419	1.712	2.081	1.068	0.654
Q1 2021	6.091	3.768	0.825	9.537	1.682	1.733	1.446	0.591
Q2 2021	6.296	3.677	0.766	9.434	1.711	2.192	1.147	0.51
Q3 2021	6.688	4.03	0.775	9.454	1.684	2.397	0.839	0.24

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	2018 Q1	2018 Q2	2018 Q3	2018 Q4	2019 Q1	2019 Q2	2019 Q3	2019 Q4	2020 Q1	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3
Total Expenditure					TE	19,559	20,385	20,440	22,202	20,809	20,751	21,541	23,184	21,251	27,122	26,294	27,365	25,673	25,734	26,108
	Expense					18,909	19,659	19,965	21,418	19,836	19,863	20,769	22,177	20,403	26,287	24,986	26,542	25,198	24,799	24,968
		Compensation of employees			D1	5,453	5,544	5,532	5,596	5,727	5,930	5,750	6,027	5,998	6,088	5,949	6,474	6,091	6,296	6,688
			Of which: Related to production of own-use capital assets			5	5	5	5	6	6	6	6	6	6	6	6	6	6	6
		Use of goods and services plus taxes payable			P2 + D5 + D29	2,485	2,727	3,037	2,967	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,768	3,677	4,030
			Use of goods and services [Intermediate consumption]		P2	2,485	2,727	3,037	2,967	2,818	3,035	3,431	3,354	3,001	3,735	4,084	4,088	3,768	3,677	4,030
				Of which: Intermediate consumption of market establishments		0	0	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	0	0
		Depreciation (Consumption of fixed capital)			P51c	1,094	1,094	1,094	1,094	1,184	1,184	1,184	1,184	1,258	1,258	1,258	1,258	1,258	1,258	1,258
				Of which: Depreciation by market establishments		0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
		Interest (excluding FISIM)			D41	1,392	1,333	1,347	1,243	1,200	1,226	1,117	1,080	1,038	948	974	870	825	766	775
			Other domestic interest payable		D41_S1	528	458	481	453	397	432	360	431	481	421	501	412	150	239	371
			Interest payable to rest of world		D41_S2	864	875	865	790	803	793	757	650	557	527	474	458	675	527	404
		Subsidies			D3	418	436	458	635	374	392	413	554	470	2,184	1,719	1,712	1,682	1,711	1,684
			Product subsidies		D31	221	240	261	271	220	239	259	270	280	306	289	311	318	334	267
			Other subsidies on production		D39	197	196	197	364	154	153	154	284	190	1,878	1,429	1,401	1,364	1,377	1,418
		Social benefits			D62 + D632	6,806	6,919	7,484	8,188	7,062	7,197	7,808	8,553	7,308	10,511	9,859	10,419	9,537	9,434	9,454
			Social benefits in cash		D62	5,806	5,596	5,547	6,423	6,001	5,787	5,737	6,629	6,135	8,949	7,583	8,298	8,361	7,861	7,144
			Social benefits in kind (via market producers)		D632	1,000	1,323	1,938	1,765	1,061	1,410	2,072	1,924	1,172	1,562	2,276	2,122	1,176	1,573	2,310
		Other current transfers			D7	949	952	760	1,004	1,175	560	839	734	979	1,171	820	1,068	1,446	1,147	839
			Net non-life insurance premiums		D71	13	13	13	13	13	13	13	13	13	13	13	13	21	21	21
			Current international cooperation		D74	88	124	136	193	131	101	110	158	84	168	119	115	96	157	93
			Miscellaneous current transfers		D75	186	207	134	169	179	174	173	233	165	415	340	246	397	367	176
			VAT and GNI based EU budget contribution		D76	661	608	477	629	851	271	543	330	718	575	348	694	932	603	549
				VAT-based EU own resources	D761	75	43	62	65	109	54	69	46	91	77	48	59	98	56	59
				GNI-based EU own resources	D762	585	565	414	565	742	217	475	284	626	498	300	635	835	547	490
		Capital transfers			D9	313	655	253	691	297	338	224	691	352	391	323	654	591	510	240
			Investment grants		D92	305	435	246	684	291	333	219	686	352	373	323	575	476	411	226
			Other capital transfers		D99	8	220	7	7	6	5	5	5	0	17	0	79	116	99	14
	Net acquisition of non-financial assets				P5 + NP - P51c	650	727	475	784	973	889	772	1,008	849	836	1,308	823	475	935	1,139
		= Gross investment in non-financial assets			P5 + NP	1,744	1,820	1,569	1,877	2,157	2,073	1,956	2,192	2,106	2,093	2,565	2,081	1,733	2,192	2,397
			Gross fixed capital formation		P51	1,729	1,805	1,554	1,862	2,142	2,058	2,082	2,177	2,091	2,078	2,550	2,066	1,718	2,177	2,382
			Net acquisition of stocks		P52	15	15	15	15	15	15	15	15	15	15	15	15	15	15	15
			Net acquisition of unproduced assets		NP	0	0	0	0	0	0	-140	0	0	0	0	0	0	0	0
		- Consumption of fixed capital			P51c	-1,094	-1,094	-1,094	-1,094	-1,184	-1,184	-1,184	-1,184	-1,258	-1,258	-1,258	-1,258	-1,258	-1,258	-1,258
Net expenditure on current goods and services					P3 excl. D632	7,977	8,148	8,439	8,223	8,678	8,938	9,147	9,137	9,197	10,199	10,266	10,779	10,218	10,321	10,977
	= Output				P1	9,031	9,365	9,663	9,656	9,729	10,150	10,366	10,565	10,256	11,081	11,291	11,820	11,117	11,231	11,976
	- Sales of goods and services				P11+P12+P131	-1,055	-1,216	-1,224	-1,433	-1,051	-1,212	-1,219	-1,428	-1,059	-882	-1,025	-1,041	-898	-910	-999
			Market output (sales of market establishments)		P11	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
			Output for own final use		P12	-5	-5	-5	-5	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6
			Incidental sales and fees of non-market establishments		P131	-1,049	-1,211	-1,218	-1,428	-1,045	-1,206	-1,214	-1,422	-1,054	-876	-1,019	-1,035	-893	-904	-994
Final consumption expenditure					P3	8,977	9,472	10,377	9,988	9,739	10,349	11,218	11,061	10,369	11,761	12,542	12,901	11,394	11,894	13,287
	= Net expenditure on current goods and services				P3 excl. D632	7,977	8,148	8,439	8,223	8,678	8,938	9,147	9,137	9,197	10,199	10,266	10,779	10,218	10,321	10,977
	+ Social transfers in kind via market producers				D632	1,000	1,323	1,938	1,765	1,061	1,410	2,072	1,924	1,172	1,562	2,276	2,122	1,176	1,573	2,310
made up of
	Individual consumption (= social transfers in kind)				P31 (= D63)	5,987	6,413	6,927	6,665	6,529	6,951	7,529	7,442	7,331	7,806	8,454	8,357	7,151	7,907	8,491
		Social transfers in kind (via market producers)			D632	1,000	1,323	1,938	1,765	1,061	1,410	2,072	1,924	1,172	1,562	2,276	2,122	1,176	1,573	2,310
		Social transfers in kind (provided directly by government)			D631	4,986	5,089	4,990	4,900	5,468	5,541	5,457	5,519	6,159	6,244	6,178	6,236	5,975	6,334	6,181
	Collective consumption (= actual final consumption of government)				P32	2,990	3,059	3,449	3,323	3,210	3,397	3,689	3,618	3,038	3,955	4,088	4,544	4,243	3,987	4,796
Total social transfers					D62 + D63	11,792	12,008	12,474	13,088	12,530	12,738	13,266	14,072	13,467	16,755	16,037	16,655	15,512	15,768	15,635
	Social benefits in cash				D62	5,806	5,596	5,547	6,423	6,001	5,787	5,737	6,629	6,135	8,949	7,583	8,298	8,361	7,861	7,144
	Social transfers in kind (= individual consumption)				D63	5,987	6,413	6,927	6,665	6,529	6,951	7,529	7,442	7,331	7,806	8,454	8,357	7,151	7,907	8,491