Dáil Éireann Debate, Wednesday - 20 June 2012
54 Deputy Michael McGrath asked the Minister for Finance if in view of the temporary nature of such revenue, he is concerned by the increasing proportion of overall Exchequer revenue that is accounted for by non tax revenue, primarily the Central Bank of Ireland surplus and income from the bank guarantee. [30044/12]
Amharc ar fhreagraA breakdown of Exchequer Non-Tax revenue is provided in the table below for the 2011 outturn and forecasts for 2012 and 2013.
|
2011 |
2012 |
2013 |
|
|
Central Bank Surplus Income |
0.67 |
0.96 |
0.92 |
|
National Lottery Surplus |
0.23 |
0.22 |
0.22 |
|
Bank Guarantee Fees |
1.24 |
0.98 |
0.36 |
|
Other Surplus Income/Royalties |
0.00 |
0.00 |
0.00 |
|
Interest on Loans (including on Contingent Capital Injected into Irish banking system |
0.02 |
0.32 |
0.31 |
|
Dividends |
0.14 |
0.11 |
0.12 |
|
Other |
0.47 |
0.15 |
0.09 |
|
Total |
2.77 |
2.73 |
2.03 |
|
Non-Tax revenue as % of total Exchequer revenue |
7.1 |
6.7 |
4.8 |
Rounding may affect totals
The Deputy should be aware that in relation to 2011, the information is set out in the end-December 2011 Exchequer Statement, which is available on my Department's website.
The figures for 2012 and 2013 are the estimates from the time of the Stability Programme Update (SPU) in late April and are likely to be subject to change as more up-to-date information becomes available later this year and into next. Given that the bank guarantee (ELG Scheme) is subject to six-monthly EU Commission approval and that the Central Bank Surplus income is largely related to interest earned on the provision of exceptional liquidity assistance (ELA) whose future usage is difficult to estimate, it is not possible to reliably estimate the revenue from these sources beyond the years mentioned.
As provided by the 2010 Finance Accounts, non-tax revenue as a proportion of total Exchequer revenues was 7.4% in 2010. The end-December 2011 Exchequer Statement showed that non-tax revenue accounted for 7.1% of all Exchequer revenues last year and April's Stability Programme Update estimates that they will account for 6.7% of Exchequer revenues this year and 4.8% next year so the share of overall Exchequer revenues is actually decreasing.
In summary, as the table above illustrates, Exchequer non-tax revenue is forecast to decline over the next two years and I am satisfied that at this point these forecasts are robust in nature.
