Richard Boyd Barrett
Ceist:102. Deputy Richard Boyd Barrett asked the Minister for Finance the amount ahead of forecast the total tax revenue is projected to be for 2016 and 2017. [28033/16]
Amharc ar fhreagraThursday, 29 September 2016
Ceisteanna (102)
Freagraí scríofa
The position is that an Exchequer tax revenue forecast of €47.2 billion was projected in Budget 2016. However, as the Deputy will be aware, this forecast was revised up to €48.1 billion, which represents a €900 million increase, in the Summer Economic Statement (SES). At end-August 2016, Exchequer tax revenues were €449 million above the Budget day forecast.
My Department's latest 2017 Exchequer tax revenue forecast in the SES was for €49.7 billion, which assumed using fiscal space of c. €330 million for tax reductions. As the Deputy will appreciate, my Department is currently reviewing the tax revenue forecasts for all years in the context of Budget 2017. The forecasts for 2017 and outer years will take account of the most up-to-date macroeconomic data and other specific tax developments.