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CSO statistical release, , 11am

Government Income and Expenditure

2010 to 2015 (July 2016 Results)

 General Government Deficit, Total Revenue, Total Expenditure and GDP
 GG DeficitTotal RevenueTotal ExpenditureGDP
End of year€m% GDP€m% GDP€m% GDP€m
2010-53,677-32.155,40733.2109,08465.3167,124
2011-21,842-12.657,71633.379,55746.0173,070
2012-14,014-8.059,49333.973,50641.8175,754
2013-10,193-5.761,52234.171,71539.8180,209
2014-7,195-3.765,80434.173,00037.8193,160
2015-4,621-1.870,62227.675,24329.4255,815

Government Deficit of -1.8% of GDP in 2015

Figure 1 General Government Deficit,Revenue and Expenditure
go to full release

In 2015, the General Government deficit was -€4.6 billion, or -1.8% of GDP. This was an improvement on the 2014 position of -€7.2 billion (-3.7% of GDP) and is mainly due to two factors, namely an increase of over 7% in government revenues which grew from €65.8 billion in 2014 to €70. 6 billion in 2015, and a substantial increase in GDP in 2015.  The increase in revenues was partially offset by an increase of €2.2 billion in expenditures.

The factors driving growth in government revenue for 2015 were primarily increases in tax and social contribution revenues partially offset by reductions to investment income. Some €4.3 billion was raised in additional taxes in 2015 comprising €3 billion of direct taxes and €1.3 billion of indirect taxes.  The increase in expenditure is mainly due to a once off capital injection expenditure which arose when the government converted part of its holdings in preference shares in AIB to ordinary shares in late 2015. The conversion of these shares is classified as expenditure of government. Further details are available in the background notes to this release. 

In 2015, Central Government collected €67 billion, or 95%, of total revenue in 2015. The balance was generated by local government in the form of commercial rates, social housing rents and other transfers.  

€72.3 billion was spent by Central Government in 2015. This resulted in a deficit in Central Government of -€5.3 billion.  Local Government recorded a surplus of €697 million in 2015. This was primarily due to a capital transfer from the exchequer to local authorities to redeem water related loans.

These balances combine to make up the deficit for General Government of - €4.6 billion, or -1.8% of GDP in 2015.  

The government deficit figure for 2015 has been revised since first estimates were published in April from -€4.9 billion to -€4.6 billion. This revision is mainly due to methodological or technical changes to the calculation of compensation of employees and financial intermediation services indirectly measured (FISIM) together with the availability of further data from audited accounts. Combined with the GDP revision, the deficit now stands at 1.8% of GDP for 2015.

National Accounts are compiled in the EU according to the European System of National and Regional Accounts (ESA2010) framework. 

These Government Income and Expenditure 2015 results are fully aligned with the National Income and Expenditure 2015 and Quarterly National Accounts Q1 2016, published on 12 July 2016. These have been updated since the publication of results for the Excessive Deficit Procedure (EDP) notification in April. 

 

Table 1 General Government transactions: revenue, expenditure and deficit
         €million
DescriptionESA2010 code201020112012201320142015
   
General Government transactions       
   
RevenueTR55,40757,71659,49361,52265,80470,622
Taxes and social contributionsD2 + D5 + D91 + D6147,37749,23150,80352,90857,43262,124
TaxesD2 + D5 + D9137,89138,86340,92942,49946,44950,736
Social contributions D619,48510,3689,87410,41010,98311,388
Sales of goods and servicesP1O5,2845,1635,1134,9384,7055,296
Investment incomeD42,1122,4543,0273,1812,9642,661
Current transfer revenue (excluding taxes)D7313258250196298253
Capital transfer revenue (excluding taxes)D9N322610299298405288
   
ExpenditureTE109,08479,55773,50671,71573,00075,243
ExpenseExpense106,78678,58573,25472,09272,20174,464
Compensation of employeesD119,29319,38918,99618,59418,34418,874
Use of goods and services plus taxes payableP2 + D5 + D299,1688,8018,3438,1968,9069,193
Depreciation (Consumption of fixed capital)P51c3,1863,3053,3013,2673,4333,627
Interest (excluding FISIM)D414,7435,7197,1797,6147,4496,693
SubsidiesD31,8281,7251,9211,9131,8531,785
Social benefitsD62 + D63228,77428,82729,47628,58328,20928,249
Other current transfersD72,6642,5982,5192,8922,7732,565
Capital transfersD937,1308,2221,5191,0331,2343,478
   
 Net operating balanceNOB-51,381-20,871-13,762-10,570-6,397-3,842
   
Net acquisition of non-financial assetsP5 + NP - P51c2,298972252-377798779
           
 General Government Surplus/DeficitB9-53,677-21,842-14,014-10,193-7,195-4,621
 General Government Surplus/Deficit (% of GDP) -32.1-12.6-8.0-5.7-3.7-1.8
Table 2 General Government: detailed classification of revenue and output   
           €million
DescriptionESA2010 code201020112012201320142015
            
Total RevenueTR55,40757,71659,49361,52265,80470,622
 Taxes and social contributions 47,37749,23150,80352,90857,43262,124
  TaxesD2 + D5 + D9137,89138,86340,92942,49946,44950,736
   Indirect taxes (taxes on production and imports)D218,06317,77918,34419,28521,19722,455
    Taxes on productsD2116,08315,70516,09916,74918,24019,431
    of which Value-Added TaxD21110,0679,75510,21910,37211,52111,955
    Other taxes on production D291,9812,0742,2452,5362,9573,023
   Direct taxesD519,58320,84222,30022,93524,89427,881
    Taxes on income, profits and capital gainsD5118,61719,43520,83721,29823,01626,604
    Other current direct taxesD599661,4071,4631,6371,8781,276
   Capital taxesD91245242285278359401
  Social contributions D619,48510,3689,87410,41010,98311,388
   Actual social contributionsD611 + D6138,4329,0398,4829,0209,58110,022
    PRSI receipts D611 + D613(pt)6,7027,2686,7997,2997,9478,512
    Government employees' social contributionsD613(pt)1,7301,7701,6821,7211,6331,510
   Employers' imputed social contributionsD6121,0531,3301,3931,3901,4031,366
 Sales of goods and servicesP1O5,2845,1635,1134,9384,7055,296
  Sales of market establishments (= market output)P118779059781,0481,1371,245
  Imputed sales related to production of own-use capital assets (= output for own final use)P12585838333321
  Incidental sales and fees of non-market establishmentsP1314,3494,2004,0973,8573,5354,031
 Investment incomeD42,1122,4543,0273,1812,9642,661
  Interest (excluding FISIM)D418681,3741,5951,4051,037715
  DividendsD421,2411,0771,4281,7721,9231,942
 Current transfer revenueD39 + D7313258250196298253
  SubsidiesD39000000
  Other current transfersD7313258250196298253
   Non-life insurance claimsD7224138998
   Other Domestic - Current D7N_S1190204200131239193
   From Rest of World - CurrentD7N_S2994142575152
 Capital transfer revenueD9N322610299298405288
            
Output P131,91631,78831,01430,48831,18532,281
 Market output (sales of market establishments)P118779059781,0481,1371,245
 Output for own final useP12585838333321
 Non-market outputP1330,98030,82529,99829,40830,01531,016
  = Non-market compensation of employeesD1_nonmarket19,23519,33118,95818,56118,31118,854
   = Total compensation of employeesD119,29319,38918,99618,59418,34418,874
   - Compensation of employees of market establishmentsD1_market      
   - Compensation related to production of own-use capital assetsD1_own-use-58-58-38-33-33-21
  + Non-market intermediate consumptionP2_nonmarket8,9448,5738,1297,9768,6868,974
   = Total intermediate consumptionP29,1678,8008,3428,1968,9069,193
   - Intermediate consumption of market establishmentsP2_market-224-227-212-219-219-219
   - Intermediate consumption related to production of own-use capital assetsP2_own-use      
  + Non-market consumption of fixed capitalP51c_nonmarket2,8022,9202,9112,8703,0183,188
   = Total consumption of fixed capitalP51c3,1863,3053,3013,2673,4333,627
   - Consumption of fixed capital by market establishmentsP51c_market-384-385-389-397-415-439
   - Consumption of fixed capital related to production of own-use capital assetsP51c_own-use      
  + Other taxes on production, payable D29_pay000000
  - Other subsidies on production, receivableD39_rec000000
Table 3 General Government: detailed classification of expenditure and consumption
           €million
DescriptionESA2010 code201020112012201320142015
            
Total ExpenditureTE109,08479,55773,50671,71573,00075,243
            
 Expense 106,78678,58573,25472,09272,20174,464
  Compensation of employeesD119,29319,38918,99618,59418,34418,874
   Of which: Related to production of own-use capital assets 585838333321
  Use of goods and services plus taxes payableP2 + D5 + D299,1688,8018,3438,1968,9069,193
   Use of goods and services [Intermediate consumption]P29,1678,8008,3428,1968,9069,193
    Of which: Intermediate consumption of market establishments 224227212219219219
   Taxes, payableD5111000
  Depreciation (Consumption of fixed capital)P51c3,1863,3053,3013,2673,4333,627
    Of which: Depreciation by market establishments 384385389397415439
  Interest (excluding FISIM)D414,7435,7197,1797,6147,4496,693
   Other domestic interest payableD41_S11,3351,3702,5582,9762,7592,297
   Interest payable to rest of worldD41_S23,4084,3494,6214,6384,6904,397
  SubsidiesD31,8281,7251,9211,9131,8531,785
   Product subsidiesD311,0831,0601,0631,071957882
   Other subsidies on productionD39745665858842897903
  Social benefitsD62 + D63228,77428,82729,47628,58328,20928,249
   Social benefits in cashD6223,81823,86824,23523,54023,01423,132
   Social benefits in kind (via market producers)D6324,9564,9585,2415,0435,1945,117
  Other current transfersD72,6642,5982,5192,8922,7732,565
   Net non-life insurance premiumsD71834777585857
   Current international cooperationD74547547546531435474
   Miscellaneous current transfersD75867854706748798526
   VAT and GNI based EU budget contributionD761,1671,1501,1901,5561,4831,507
    VAT-based EU own resourcesD761194194191194203215
    GNI-based EU own resourcesD7629739569991,3611,2801,293
  Capital transfersD937,1308,2221,5191,0331,2343,478
   Investment grantsD921,3021,1011,2399951,0411,367
   Other capital transfersD9935,8287,121280381932,111
            
 Net acquisition of non-financial assetsP5 + NP - P51c2,298972252-377798779
  = Gross investment in non-financial assetsP5 + NP5,4844,2773,5532,8904,2314,406
   Gross fixed capital formationP515,5644,1663,4703,5304,1714,346
   Net acquisition of stocksP52-8011183836060
   Net acquisition of unproduced assetsNP000-72300
  - Consumption of fixed capitalP51c-3,186-3,305-3,301-3,267-3,433-3,627
            
Net expenditure on current goods and servicesP3 excl. D63226,63126,62525,90125,55026,47926,985
 = OutputP131,91631,78831,01430,48831,18532,281
 - Sales of goods and services P11+P12+P131-5,284-5,163-5,113-4,938-4,705-5,296
   Market output (sales of market establishments)P11-877-905-978-1,048-1,137-1,245
   Output for own final useP12-58-58-38-33-33-21
   Incidental sales and fees of non-market establishmentsP131-4,349-4,200-4,097-3,857-3,535-4,031
            
Final consumption expenditureP331,58731,58331,14230,59331,67432,101
 = Net expenditure on current goods and servicesP3 excl. D63226,63126,62525,90125,55026,47926,985
 + Social transfers in kind via market producers D6324,9564,9585,2415,0435,1945,117
made up of        
 Individual consumption (= social transfers in kind)P31 (= D63)21,81421,49721,36320,86221,58221,726
  Social transfers in kind (via market producers)D6324,9564,9585,2415,0435,1945,117
  Social transfers in kind (provided directly by government)D63116,85816,53916,12215,81916,38716,610
 Collective consumption (= actual final consumption of government)P329,77310,0869,7799,73110,09210,375
            
Total social transfersD62 + D6345,63345,36645,59844,40244,59644,858
 Social benefits in cashD62 23,81823,86824,23523,54023,01423,132
 Social transfers in kind (= individual consumption)D6321,81421,49721,36320,86221,58221,726
Table 4 Central Government transactions: revenue, expenditure, financing and deficit
         €million
DescriptionESA2010 code201020112012201320142015
   
Central Government transactions       
   
RevenueTR51,80954,14955,81658,00462,38967,002
Taxes and social contributionsD2 + D5 + D91 + D6145,73447,54548,98551,17055,73260,501
TaxesD2 + D5 + D9136,55937,51839,44841,09245,04649,411
Social contributions D619,17410,0279,53710,07810,68511,090
Sales of goods and servicesP1O3,7003,5733,5133,3313,2323,558
Investment incomeD42,0592,4533,0283,2322,9952,671
Current transfer revenue (excluding taxes)D7267214207170258216
Capital transfer revenue (excluding taxes)D9N493648310217356
   
ExpenditureTE105,48075,84469,74568,19669,55772,320
ExpenseExpense104,42775,17169,08567,89867,99570,752
Compensation of employeesD117,15017,20416,84916,56816,79117,321
Use of goods and services plus taxes payableP2 + D5 + D297,2696,7776,4646,7967,2157,502
Depreciation (Consumption of fixed capital)P51c1,3801,4881,4551,3961,9332,127
Interest (excluding FISIM)D414,7215,6977,1577,5927,4366,678
SubsidiesD31,8281,7251,9211,9131,8531,785
Social benefitsD62 + D63227,23827,35427,90427,05726,87026,781
Other current transfersD75,2235,0424,7314,6454,2534,144
Capital transfersD939,6179,8852,6041,9321,6444,413
   
 Net operating balanceNOB-52,619-21,022-13,268-9,895-5,607-3,749
   
Net acquisition of non-financial assetsP5 + NP - P51c1,0536736602981,5621,568
           
 Central Government Surplus/DeficitB9-53,672-21,695-13,928-10,193-7,169-5,317
Table 5 Central Government: detailed classification of revenue and output   
           €million
DescriptionESA2010 code201020112012201320142015
            
Total RevenueTR51,80954,14955,81658,00462,38967,002
 Taxes and social contributions 45,73447,54548,98551,17055,73260,501
  TaxesD2 + D5 + D9136,55937,51839,44841,09245,04649,411
   Indirect taxes (taxes on production and imports)D216,74116,43716,86617,87819,79421,130
    Taxes on productsD2116,08315,70516,09916,74918,24019,431
    of which Value-Added TaxD21110,0679,75510,21910,37211,52111,955
    Other taxes on production D296597327671,1301,5541,699
   Direct taxesD519,58320,84222,30022,93524,89427,881
    Taxes on income, profits and capital gainsD5118,61719,43520,83721,29823,01626,604
    Other current direct taxesD599661,4071,4631,6371,8781,276
   Capital taxesD91235239282278359401
  Social contributions D619,17410,0279,53710,07810,68511,090
   Actual social contributionsD611 + D6138,2278,8308,2848,8279,4519,892
    PRSI receipts D611 + D613(pt)6,7027,2686,7997,2997,9478,512
    Government employees' social contributionsD613(pt)1,5251,5621,4841,5281,5031,380
   Employers' imputed social contributionsD6129471,1971,2531,2511,2351,198
 Sales of goods and servicesP1O3,7003,5733,5133,3313,2323,558
  Sales of market establishments (= market output)P11000000
  Imputed sales related to production of own-use capital assets (= output for own final use)P12585838333321
  Incidental sales and fees of non-market establishmentsP1313,6423,5153,4753,2973,1993,538
 Investment incomeD42,0592,4533,0283,2322,9952,671
  Interest (excluding FISIM)D418161,3731,5961,4561,068725
   of which received from local governmentD41_LG8011897997150
  DividendsD421,2411,0771,4281,7721,9231,942
 Current transfer revenueD39 + D7267214207170258216
  SubsidiesD39000000
  Other current transfersD7267214207170258216
   Non-life insurance claimsD7224138998
   Grants from local governmentD73333333
   Other Domestic - Current D7N_S1142158155102196153
   From Rest of World - CurrentD7N_S2994142575152
 Capital transfer revenueD9N493648310217356
            
Output P125,79925,46724,76724,75925,93926,950
 Market output (sales of market establishments)P11000000
 Output for own final useP12585838333321
 Non-market outputP1325,74125,40924,72924,72625,90626,929
  = Non-market compensation of employeesD1_nonmarket17,09217,14616,81116,53516,75817,301
   = Total compensation of employeesD117,15017,20416,84916,56816,79117,321
   - Compensation of employees of market establishmentsD1_market000000
   - Compensation related to production of own-use capital assetsD1_own-use-58-58-38-33-33-21
  + Non-market intermediate consumptionP2_nonmarket7,2696,7756,4636,7967,2157,502
   = Total intermediate consumptionP27,2696,7756,4636,7967,2157,502
   - Intermediate consumption of market establishmentsP2_market000000
   - Intermediate consumption related to production of own-use capital assetsP2_own-use000000
  + Non-market consumption of fixed capitalP51c_nonmarket1,3801,4881,4551,3961,9332,127
   = Total consumption of fixed capitalP51c1,3801,4881,4551,3961,9332,127
   - Consumption of fixed capital by market establishmentsP51c_market000000
   - Consumption of fixed capital related to production of own-use capital assetsP51c_own-use000000
  + Other taxes on production, payable D29_pay000000
  - Other subsidies on production, receivableD39_rec000000
Table 6 Central Government: detailed classification of expenditure and consumption
           €million
DescriptionESA2010 code201020112012201320142015
            
Total ExpenditureTE105,48075,84469,74568,19669,55772,320
            
 Expense 104,42775,17169,08567,89867,99570,752
  Compensation of employeesD117,15017,20416,84916,56816,79117,321
   Of which: Related to production of own-use capital assets 585838333321
  Use of goods and services plus taxes payableP2 + D5 + D297,2696,7776,4646,7967,2157,502
   Use of goods and services [Intermediate consumption]P27,2696,7756,4636,7967,2157,502
    Of which: Intermediate consumption of market establishments 000000
   Taxes, payableD5111000
  Depreciation (Consumption of fixed capital)P51c1,3801,4881,4551,3961,9332,127
    Of which: Depreciation by market establishments 000000
  Interest (excluding FISIM)D414,7215,6977,1577,5927,4366,678
   Other domestic interest payableD41_S11,3131,3482,5362,9542,7462,282
   Interest payable to rest of worldD41_S23,4084,3494,6214,6384,6904,397
  SubsidiesD31,8281,7251,9211,9131,8531,785
   Product subsidiesD311,0831,0601,0631,071957882
   Other subsidies on productionD39745665858842897903
  Social benefitsD62 + D63227,23827,35427,90427,05726,87026,781
   Social benefits in cashD6222,93923,09923,45622,88522,64922,767
   Social benefits in kind (via market producers)D6324,2994,2554,4484,1724,2214,014
  Other current transfersD75,2235,0424,7314,6454,2534,144
   Net non-life insurance premiumsD71834777585857
   Current grants to local governmentD73 _LG2,6042,4902,2571,7981,5261,626
   Current international cooperationD74547547546531435474
   Miscellaneous current transfersD75822808661703751479
   VAT and GNI based EU budget contributionD761,1671,1501,1901,5561,4831,507
    VAT-based EU own resourcesD761194194191194203215
    GNI-based EU own resourcesD7629739569991,3611,2801,293
  Capital transfersD939,6179,8852,6041,9321,6444,413
   Capital grants to local governmentD9_LG2,7331,8511,3571,1326321,157
   Investment grantsD921,0559139667628191,145
   Other capital transfersD9935,8287,121280381932,111
            
 Net acquisition of non-financial assetsP5 + NP - P51c1,0536736602981,5621,568
  = Gross investment in non-financial assetsP5 + NP2,4332,1612,1161,6953,4953,695
   Gross fixed capital formationP512,5132,0502,0332,3353,4353,635
   Net acquisition of stocksP52-8011183836060
   Net acquisition of unproduced assetsNP000-72300
  - Consumption of fixed capitalP51c-1,380-1,488-1,455-1,396-1,933-2,127
            
Net expenditure on current goods and servicesP3 excl. D63222,10021,89421,25421,42922,70723,392
 = OutputP125,79925,46724,76724,75925,93926,950
 - Sales of goods and services P11+P12+P131-3,700-3,573-3,513-3,331-3,232-3,558
   Market output (sales of market establishments)P11000000
   Output for own final useP12-58-58-38-33-33-21
   Incidental sales and fees of non-market establishmentsP131-3,642-3,515-3,475-3,297-3,199-3,538
            
Final consumption expenditureP326,39826,14925,70225,60126,92827,405
 = Net expenditure on current goods and servicesP3 excl. D63222,10021,89421,25421,42922,70723,392
 + Social transfers in kind via market producers D6324,2994,2554,4484,1724,2214,014
made up of        
 Individual consumption (= social transfers in kind)P31 (= D63)19,63719,08418,94618,58619,58919,597
  Social transfers in kind (via market producers)D6324,2994,2554,4484,1724,2214,014
  Social transfers in kind (provided directly by government)D63115,33914,82914,49814,41415,36915,583
 Collective consumption (= actual final consumption of government)P326,7617,0656,7567,0157,3387,808
            
Total social transfersD62 + D6342,57742,18242,40241,47142,23942,364
 Social benefits in cashD62 22,93923,09923,45622,88522,64922,767
 Social transfers in kind (= individual consumption)D6319,63719,08418,94618,58619,58919,597
Table 7 Local Government transactions: revenue, expenditure, financing and deficit
         €million
DescriptionESA2010 code201020112012201320142015
   
Local Government transactions       
   
RevenueTR9,0188,0287,3916,5505,6486,457
Taxes and social contributionsD2 + D5 + D91 + D611,6431,6871,8181,7381,7011,623
TaxesD2 + D5 + D911,3321,3451,4811,4071,4031,325
Social contributions D61311342337332298298
Sales of goods and servicesP1O1,5851,5901,6001,6081,4731,738
Investment incomeD413211997494040
Current transfer revenue (excluding taxes)D72,6522,5362,3021,8271,5701,666
Capital transfer revenue (excluding taxes)D9N3,0062,0961,5731,3288641,389
   
ExpenditureTE9,0258,1757,4766,5515,6765,760
ExpenseExpense7,7807,8777,8847,2266,4396,549
Compensation of employeesD12,1422,1852,1472,0271,5531,553
Use of goods and services plus taxes payableP2 + D5 + D291,8982,0251,8791,4001,6911,691
Depreciation (Consumption of fixed capital)P51c1,8061,8171,8451,8711,5001,500
Interest (excluding FISIM)D411021411201228565
SubsidiesD3000000
Social benefitsD62 + D6321,5361,4731,5731,5271,3391,468
Other current transfersD7484848485050
Capital transfersD9246188273233222222
   
 Net operating balanceNOB1,238152-493-677-791-92
   
Net acquisition of non-financial assetsP5 + NP - P51c1,245299-408-675-764-789
           
 Local Government Surplus/DeficitB9-6-147-85-1-27697
Table 8 Local Government: detailed classification of revenue and output   
           €million
DescriptionESA2010 code201020112012201320142015
            
Total RevenueTR9,0188,0287,3916,5505,6486,457
 Taxes and social contributions 1,6431,6871,8181,7381,7011,623
  TaxesD2 + D5 + D911,3321,3451,4811,4071,4031,325
   Indirect taxes (taxes on production and imports)D21,3221,3421,4781,4071,4031,325
   Other taxes on production D291,3221,3421,4781,4071,4031,325
   Capital taxesD911033000
  Social contributions D61311342337332298298
   Actual social contributionsD611 + D613206209198193130130
   Employers' imputed social contributionsD612105133139139168168
 Sales of goods and servicesP1O1,5851,5901,6001,6081,4731,738
  Sales of market establishments (= market output)P118779059781,0481,1371,245
  Imputed sales related to production of own-use capital assets (= output for own final use)P12000000
  Incidental sales and fees of non-market establishmentsP131707685622560337493
 Investment incomeD413211997494040
  Interest (excluding FISIM)D4113211997494040
  in which received from Central GovernmentD41_CG000000
  DividendsD42000000
 Current transfer revenueD39 + D72,6522,5362,3021,8271,5701,666
  SubsidiesD39000000
  Other current transfersD72,6522,5362,3021,8271,5701,666
   Grants from central governmentD732,6042,4902,2571,7981,5261,626
   Other Domestic - Current D7N_S1484645294340
 Capital transfer revenueD9N3,0062,0961,5731,3288641,389
   Grants from central governmentD9N_CG2,7331,8511,3571,1326321,157
   Other capital transfers receivableD99273246216196232232
            
Output P16,1166,3206,2475,7295,2465,332
 Market output (sales of market establishments)P118779059781,0481,1371,245
 Output for own final useP12000000
 Non-market outputP135,2395,4155,2694,6814,1094,087
  = Non-market compensation of employeesD1_nonmarket2,1422,1852,1472,0271,5531,553
   = Total compensation of employeesD12,1422,1852,1472,0271,5531,553
   - Compensation of employees of market establishmentsD1_market000000
   - Compensation related to production of own-use capital assetsD1_own-use000000
  + Non-market intermediate consumptionP2_nonmarket1,6751,7981,6671,1811,4721,472
   = Total intermediate consumptionP21,8982,0251,8791,4001,6911,691
   - Intermediate consumption of market establishmentsP2_market-224-227-212-219-219-219
   - Intermediate consumption related to production of own-use capital assetsP2_own-use000000
  + Non-market consumption of fixed capitalP51c_nonmarket1,4221,4321,4561,4741,0851,061
   = Total consumption of fixed capitalP51c1,8061,8171,8451,8711,5001,500
   - Consumption of fixed capital by market establishmentsP51c_market-384-385-389-397-415-439
   - Consumption of fixed capital related to production of own-use capital assetsP51c_own-use000000
  + Other taxes on production, payable D29_pay000001
  - Other subsidies on production, receivableD39_rec000000
Table 9 Local Government: detailed classification of expenditure and consumption
           €million
DescriptionESA2010 code201020112012201320142015
            
Total ExpenditureTE9,0258,1757,4766,5515,6765,760
            
 Expense 7,7807,8777,8847,2266,4396,549
  Compensation of employeesD12,1422,1852,1472,0271,5531,553
   Of which: Related to production of own-use capital assets 000000
  Use of goods and services plus taxes payableP2 + D5 + D291,8982,0251,8791,4001,6911,691
   Use of goods and services [Intermediate consumption]P21,8982,0251,8791,4001,6911,691
    Of which: Intermediate consumption of market establishments 224227212219219219
   Taxes, payableD5 + D29000000
  Depreciation (Consumption of fixed capital)P51c1,8061,8171,8451,8711,5001,500
    Of which: Depreciation by market establishments 384385389397415439
  Interest (excluding FISIM)D411021411201228565
   Interest payable to central governmentD41_CG8011897997150
   Other domestic interest payableD41_S1222222221315
  SubsidiesD3000000
  Social benefitsD62 + D6321,5361,4731,5731,5271,3391,468
   Social benefits in cashD62879770779656365365
   Social benefits in kind (via market producers)D6326577047948719741,103
  Other current transfersD7484848485050
   Grants to central governmentD73_CG333333
   Miscellaneous current transfersD75464645454747
  Capital transfersD9246188273233222222
   Investment grantsD92246188273233222222
            
 Net acquisition of non-financial assetsP5 + NP - P51c1,245299-408-675-764-789
  = Gross investment in non-financial assetsP5 + NP3,0502,1161,4371,195736711
   Gross fixed capital formationP513,0502,1161,4371,195736711
   Net acquisition of stocksP52000000
   Net acquisition of unproduced assetsNP000000
  - Consumption of fixed capitalP51c-1,806-1,817-1,845-1,871-1,500-1,500
            
Net expenditure on current goods and servicesP3 excl. D6324,5324,7304,6474,1213,7723,594
 = OutputP16,1166,3206,2475,7295,2465,332
 - Sales of goods and services P11+P12+P131-1,585-1,590-1,600-1,608-1,473-1,738
   Market output (sales of market establishments)P11-877-905-978-1,048-1,137-1,245
   Output for own final useP12000000
   Incidental sales and fees of non-market establishmentsP131-707-685-622-560-337-493
            
Final consumption expenditureP35,1895,4345,4414,9924,7464,697
 = Net expenditure on current goods and servicesP3 excl. D6324,5324,7304,6474,1213,7723,594
 + Social transfers in kind via market producers D6326577047948719741,103
made up of        
 Individual consumption (= social transfers in kind)P31 (= D63)2,1772,4142,4172,2761,9922,129
  Social transfers in kind (via market producers)D6326577047948719741,103
  Social transfers in kind (provided directly by government)D6311,5201,7101,6241,4051,0191,026
 Collective consumption (= actual final consumption of government)P323,0123,0203,0232,7162,7542,568
            
Total social transfersD62 + D633,0563,1833,1962,9322,3572,494
 Social benefits in cashD62 879770779656365365
 Social transfers in kind (= individual consumption)D632,1772,4142,4172,2761,9922,129

Background Notes

Introduction

This release comprises the latest official publication by CSO of annual Government Finance Statistics results for years 2010 to 2015.  The results for 2015 are provisional estimates and replace the data published as part of the Excessive Deficit Procedure notification on 20 April 2016. 

The tables provide detailed revenue and expenditure data for General Government and its two subsectors, namely Central and Local Government. This allows the user to decompose the data to subsector level. A full time series of these data back to 1995 are available on Eurostat’s data base, located at the following link:

http://ec.europa.eu/eurostat/web/government-finance-statistics/data/main-tables

Note: These tables replace tables 19, 20 and 21 of the annual National Income and Expenditure publication. 

The full suite of government finance statistics tables are also available on the CSO’s website by following the link:

http://www.cso.ie/en/statistics/nationalaccounts/governmentfinancestatistics/

The data published in this series are fully consistent with the National Income and Expenditure 2015 and the Quarterly National Accounts Q1 2016 releases (12 July 2016).  They are also consistent with the Quarterly Government Finance Statistics Q1 2016 release published on 13 July 2016. 

Significant events arising in 2015

Share Transactions

In Quarter 1 2015 the Ireland Strategic Investment Fund transferred €1,634 million to the exchequer. These funds related to the disposal of its preference share holding in Bank of Ireland.

In Quarter 2 2015 Permanent TSB (PTSB) repurchased contingent capital notes issued in 2011, for which the State received €410.5 million.  At around the same time the State sold shares which it held in PTSB at a value of €97 million.  The proceeds of both transactions were recorded in the Exchequer statement.

In Quarter 4 2015 the Ireland Strategic Investment Fund redeemed part of its preference shares in AIB for the sum of €1,700 million.  At the same time the balance of its preference shares were converted to ordinary shares, and the promissory note issued to EBS in 2010 was paid off in full.  The net proceeds of these transactions were recorded in the December Exchequer Statement.

For National Accounts purposes the net inflows to the Exchequer arising from all of the above transactions are not treated as revenue as they are simply the exchange of one asset (equity or securities) for cash or another form of financial asset.  Therefore they have no impact on the general government deficit.  The balance sheet of government shows changes in the relevant instrument categories resulting from these transactions.

The conversion of the preference shares to ordinary shares has been determined to be a capital transfer (expenditure) rather than a reinvestment of capital. This determination was arrived at by Eurostat during the April 2016 EDP clarification process based on AIB losses incurred since the last capital injection was made in 2012 and on the uncertainty of a return on the investment when compared to the guaranteed return on the preference shares previously held. 

Repayment of water-related loans by Central Government.

In Quarter 3 2015 the amount of €423 million was transferred from the Exchequer to local authorities to allow them redeem loans from the Housing Finance Agency related to water services assets.  The assets in question had transferred to Irish Water while the legal title to the loans remained with the local authorities.  This payment was treated as a capital transfer to Local Government from Central Government, resulting in an improvement of the Local Government balance for 2015 and a corresponding worsening of the Central Government balance, resulting in a zero impact at the General Government level as a result of this transaction. A further amount of approximately €147m in loans related to water services assets are also due for repayment by the Minister. 

Other changes since the last release of annual Government Finance Statistics (in April 2016)

Revisions to General Government Deficit/Surplus (GG Deficit/Surplus)

Estimates of the General Government deficit for years 2009 to 2015 have been revised since April 2016. The changes indicate an improvement in the deficit of €300 million for 2015. This is mainly the result of the availability of further data from audited accounts, as well as methodological and data source changes in the estimation of financial intermediation services indirectly measured (FISIM) and Compensation of Employees.   

Revisions to GDP

The GDP figures used in the current publication are consistent with those published in the National Income and Expenditure 2015 and the latest Quarterly National Accounts publication. 

Other relevant information

Register of Public Sector Bodies

The Central Statistics Office (CSO) is required to define the scope of the public sector (which includes the General Government Sector) for the official reporting of Ireland’s General Government Deficit/Surplus, Government Debt, and other Government Finance Statistics.  In this context, the public sector includes all bodies that are directly or indirectly controlled by a Government department or office, or by a local authority.  General Government, in turn, includes all public sector bodies that are also mainly financed by government bodies.  The decision rules governing the classification of bodies to the Public and General Government sectors are set out in detail in the Manual on Government Deficit and Debt (MGDD).

The CSO’s Register of Public Sector bodies is updated twice a year to coincide with the submission of government deficit and debt figures to Eurostat under the Excessive Deficit Procedure. It reflects any changes in the composition of the government sector since the previous update.  

Copies of documents relating to classification decisions can be seen at:

http://www.cso.ie/en/surveysandmethodology/nationalaccounts/classificationdecisions/

A detailed explanation of the application of these rules and the most up-to-date list of public sector bodies (including General Government bodies) for Ireland is also shown at this link.

Government Finance Statistics – Concepts and Definitions

Government Finance Statistics (GFS) form the basis for fiscal monitoring in Europe, in particular in relation to the Excessive Deficit Procedure (EDP). 

European GFS, including EDP statistics are produced according to the legally binding accounting rules of the European System of Accounts (ESA2010).  The Manual on Government Debt and Deficit (MGDD) provides further guidance on the implementation of ESA 2010 in the context of GFS. 

EU Member States are required to report government deficit/surplus and debt data biannually under the EDP (before 1 April and 1 October in year N) for years N-4 to N-1 calendar years as well as a forecast for the current year. The data are reported in harmonised tables, which provide a consistent framework for the presentation of this data by Member States. The tables provide a structure for linking national budgetary aggregates with government deficit and debt.

In addition to the EDP transmission programme, detailed statistics on government revenue and expenditure are also provided to Eurostat under the ESA transmission programme.  For quarterly data the main tables reported are:

Table 801   Quarterly Non-financial accounts by sector  

Table 2500 Quarterly Short Term Statistics (Revenue and Expenditure) for general government

Table 2700 Quarterly financial accounts for general government

Table 2800 Quarterly government debt

These data are available on the Eurostat website. 

http://ec.europa.eu/eurostat/web/government-finance-statistics/data/main-tables

Definition of General Government and its subsectors

The General Government sector of the economy, is defined in ESA2010 paragraph 2.111: as “institutional units which are non-market producers whose output is intended for individual and collective consumption, and are financed by compulsory payments made by units belonging to other sectors, and institutional units principally engaged in the redistribution of national income and wealth.” General Government comprises the sub-sectors Central Government (S.1311), State Government (S.1312 – which does not apply in Ireland), Local Government (S.1313), and social security funds (S.1314 – which does not apply in Ireland),

General Government Deficit/Surplus (GG Deficit/Surplus) is the standard European measure of the fiscal balance, which is used to monitor compliance with the Stability and Growth Pact.

This measure is by definition equal to both Total Revenue (TR) less Total Expenditure (TE), and Net Acquisition of Financial Assets less Net Incurrence of Liabilities. In order to respect this accounting identity, a technical adjustment is made to the level of transactions recorded in liability category F32 (long-term debt securities) to eliminate any statistical discrepancy between the two approaches to the calculation of GG Deficit/Surplus. This adjustment has no impact on gross debt, net debt or net worth.

A listing of some of the main items included in this release is shown below

Main Components of General Government Expenditure and Revenue

P.2       Intermediate consumption – value of goods and services used in the process of production, excluding fixed assets

P.5       Gross capital formation

            P.51g   Gross fixed capital formation - acquisitions, less disposals, of fixed assets during a given period plus certain additions to the value of non-produced assets realised by productive activity. Fixed assets are tangible or intangible assets produced as outputs from processes of production that are themselves used repeatedly, or continuously, in processes of production for more than one year

            P.51c   Consumption of fixed capital - the amount of fixed assets used up, during the period under consideration, as a result of normal wear and tear and foreseeable obsolescence, including a provision for losses of fixed assets as a result of accidental damage which can be insured against.

P.52     Changes in inventories

P.53     Acquisitions less disposals of valuables

D.1      Compensation of employees – the total remuneration of Government Employees

D.29    Other taxes on production (payable) all taxes that enterprises incur as a result of engaging in production, independently of the quantity or value of the goods and services produced or sold. These include taxes on use or ownership of land or buildings, taxes on use of fixed assets, taxes on total wage bill and payroll, taxes on international transactions related to production.

D.3      Subsidies (payable) - current unrequited payments which General Government or the institutions of the European Union make to resident  producers, with the objective of influencing their levels of production, their prices or the remuneration of the factors of production

D.4      Property income accrues when the owners of financial assets and natural resources put them at the disposal of other units of the economy. The income payable for the use of financial assets is called investment income, while that payable for the use of a natural resource is called rent. Property income is the sum of investment income and rent.

           D.41    Interest receivable by the owners of a financial asset for putting it at the disposal of another institutional unit - applies to deposits (AF.2), debt securities (AF.3), loans (AF.4) and other accounts payable (AF.8)

           D.42    Dividends receivable by the owners of share equities. Dividends exclude "super dividends" which arise where the dividend paid is large relative to the recent level of dividends and earnings. Super dividends are recorded as withdrawal of equity (F.5). This arises, for example, in the case of dividends paid by the central bank in 2015.

D.5      Current taxes on income, wealth, etc, (payable)  - all compulsory, unrequited payments, in cash or in kind, levied periodically by General Government and by the rest of the world on the income and wealth of units in the economy, and some periodic taxes which are assessed neither on income nor wealth

D.6      Social contributions - transfers to households, in cash or in kind, intended to relieve them from the financial burden of a number of risks or needs.

D.7      Other current transfers – includes VAT and GNI based EU budget contributions, current transfers between subsectors of government, current international co-operation and current transfers to households and non-profit institutions.

D.9      Capital transfers - involve the acquisition or disposal of an asset, or assets, by at least one of the parties to the transaction.  Includes capital taxes and investment grants.

 

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