Dáil Éireann Debate, Wednesday - 13 July 2022
205. Deputy Ged Nash asked the Minister for Public Expenditure and Reform the additional resources that are available for the allocation in the Budget if the spending rule of 6.5% was increased to either 7%, 7.5%, 8% or 9% respectively in tabular form; the impact on the Exchequer balance in each case; and if he will make a statement on the matter. [38621/22]
View answerThe 2022 Summer Economic Statement (SES) set out an expenditure package of €5.7 billion over 2022 and 2023. €0.4 billion of this is to be allocated in 2022 for the early implementation of new current expenditure measures. This will result in a 2022 core expenditure ceiling of €80.5 billion. An additional €5.3 billion will be available in 2023 bringing the 2023 core ceiling to €85.8 billion, a year-on-year increase of 6.5%.
The expenditure impact of increasing the 2023 ceiling by 7%, 7.5%, 8% and 9% over the revised 2022 ceiling is set out in the table below. The Exchequer balance position is dependent on revenues as well as expenditure. The Department of Finance updated the fiscal forecasts in the Stability Programme Update in April and will publish a full suite of forecasts alongside Budget 2023.
|
Percentage Increase |
7% |
7.5% |
8% |
9% |
|
€Bn |
€Bn |
€Bn |
€Bn |
|
|
Core Spending |
86.1 |
86.5 |
86.9 |
87.7 |
|
Annual Change |
5.6 |
6.0 |
6.4 |
7.2 |
|
Increase Over SES 2023 Amount |
0.4 |
0.8 |
1.2 |
2.0 |
