Dáil Éireann Debate, Thursday - 4 October 2012
43. Deputy Robert Troy asked the Minister for Finance his views regarding the trend in the Exchequer returns in recent months, particularly in relation to tax receipts when compared with the same period last year; and if he will make a statement on the matter. [42316/12]
Amharc ar fhreagraThe deputy should be aware that I issued a joint press release with my colleague, the Minister for Public Expenditure and Reform on Tuesday 02 October to coincide with the release of the end-September returns. As outlined, the Exchequer Returns for the period to end-September provide further evidence that the Government is restoring the public finances to a more sustainable position. The tax base is growing; the majority of Departments are managing expenditure within allocations and where there are overruns action is being taken to bring these under control. September 2012 is the third month this year in which Exchequer revenues exceeded expenditure. As regards tax receipts, specifically while there was some minor weakening in the third quarter taxes are significantly ahead of the same period last year and €385 million (1.5%) ahead of profile as a cumulative basis at end-September. Three of the ‘big four’ tax heads - income tax, corporation tax and VAT - continue to perform ahead of profile with three quarters of the year already passed. This is a positive development as we strive to reduce the deficit in our public finances further.
We cannot lose sight of the fact that, despite the significant progress made, the deficit, at €11 billion for the first nine months of the year, remains too high and the Government is committed to reducing it further in the coming years.
