Dáil Éireann Debate, Tuesday - 13 December 2016
155. Deputy Thomas P. Broughan asked the Minister for Finance if he now expects the Exchequer outturn for 2016 to be in line with his October budget predictions; and if he will make a statement on the matter. [39521/16]
View answerBased on the recent end-November Exchequer Returns, we are currently on track to achieve our Budget 2017 forecast in respect of the Exchequer outturn for 2016. As the Deputy will be aware, an overall Exchequer deficit of c. €1.4 billion is projected for this year.
In relation to our revised tax revenue forecast for 2016 of €48.1 billion, the position at end-November was that approximately 93 per cent of our overall targeted tax receipts had been collected, which is very much in line with expectations. By way of contrast, 92 per cent of overall taxes were collected in the corresponding period last year.
It is also worth pointing out that at end-November, c. 87 per cent (€49.1 billion) of the overall projected gross voted expenditure for 2016 had been issued. By comparison, at end-November 2015, approximately 88 per cent (€48.2 billion) of the overall gross voted allocation had been issued.
Finally, it should be noted that the other components of the Exchequer are broadly in line with expectations at end-November 2016. However, it is important to point out that assuming expenditure comes in on target, a strong tax revenue performance will be required this month in order to ensure that overall Exchequer 2016 target is attained.
