Dáil Éireann díospóireacht -
Tuesday, 3 Mar 1998

Vol. 488 No. 1

Written Answers - Tax Receipts.

Michael Noonan

Ceist:

71 Mr. Noonan asked the Minister for Finance the excess taxation receipts, if any, over the estimated amount for January and February 1998; if so, the principal components for the excess; whether he is revising his forecast for 1998 in total; and if he will make a statement on the matter. [5595/98]

Minister for Finance (Mr. McCreevy)

On budget day the Department of Finance forecast an increase of 7.1 per cent tax receipts for 1998. This was based on an estimated outturn for 1997 of £14,158 million inclusive of £100 million motor vehicle duties which is now retained by the local authorities. The actual outturn for 1997 was £14,272, some £124 million better than expected on budget day, 3 December. To reflect this higher outturn, it is now forecast that receipts will be £15,270 million in 1998 compared with the budget day forecast of £15,167 million.

Cumulative tax receipts up to the end of February are about 9 per cent higher than the corresponding period last year but these do not as yet reflect the impact of most of the budget day changes. At this stage it is not our intention to revise our forecasts on foot of data for the year to-date. As usual, I will be issuing a detailed statement on the Exchequer returns at the end of the quarter.