Dáil Éireann Debate, Thursday - 4 October 2012
93. Deputy Bernard J. Durkan asked the Minister for Finance the extent to which Exchequer returns are on target and thereby affecting his approach to Budget 2013; and if he will make a statement on the matter. [42531/12]
Amharc ar fhreagraThe end-September Exchequer Returns published on Tuesday 2 October show that tax revenues are €385 million (1.5%) ahead of target. Three of the ‘big four’ tax-heads – income tax, corporation tax and VAT – are ahead of profile at end-September. This is a positive development. As regards expenditure, while the majority of Departments continue to manage within their agreed limits, there are pressures, in the health and social protections areas in particular. I know that my colleague the Minister for Public Expenditure and Reform and his Department are working closely with Departments to ensure spending is managed effectively.
As we stated in our joint press release issued on Tuesday 2 October, the Exchequer Returns for the period to end-September highlight the progress the Government is making in 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.
Overall, I am confident that on the basis of these Returns, we are on track to meet our budgetary targets for the second consecutive year this year.
However, despite the significant progress made, the Exchequer 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. It will still be necessary to introduce measures in Budget 2013 which further align our revenues and our spending more closely.
