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Budget 2019

Dáil Éireann Debate, Tuesday - 6 November 2018

Tuesday, 6 November 2018

Ceisteanna (171)

Peter Burke

Ceist:

171. Deputy Peter Burke asked the Minister for Finance the factors that underline the year-on-year change in the equity and loan transactions listed in table A1 of the economic and fiscal outlook in Budget 2019. [44673/18]

Amharc ar fhreagra

Freagraí scríofa

Equity and loan transactions affect the Exchequer balance but are excluded from the general government balance under the European System of Accounts 2010 framework. This is because they are essentially an exchange of one type of asset (e.g. cash) for another (e.g. equity or loans). For example, the sale of AIB shares in 2017 benefitted the Exchequer but had no impact on the general government balance as this was a financial transaction.

Table 10 in the Economic and Fiscal Outlook published in Budget 2019 outlines the exchequer position, including the main transactions with no general government impact. Major drivers of the change in equity and loan transactions include central bank surplus income and the receipts from NAMA, the latter of which are expected in 2020 and 2021. The relevant part of the table is reproduced below for the Deputy’s convenience.

2018

2019

2020

2021

2022

2023

Revenue transactions with no GG impact

3,140

2,290

3,440

3,715

1,740

1,770

: non-tax revenue

1,430

1,240

590

645

665

700

- Central bank surplus income

1,430

1,240

590

645

665

700

: capital resources

1,710

1,055

2,850

3,070

1,070

1,070

- NAMA

0

0

1,500

2,000

0

0

- FEOGA

740

800

800

800

800

800

- Loan repayments

970

245

550

270

270

270

- Other

0

10

0

0

0

0

Expenditure transactions with no GG impact

1,060

1,635

1,650

1,635

1,660

1,695

: non-voted current expenditure

10

5

5

5

5

5

- Other

10

5

5

5

5

5

: non-voted capital expenditure

1,050

1,130

1,145

1,125

1,155

1,190

- FEOGA

800

800

800

800

800

800

- Loans to Irish Water

240

310

335

315

345

385

- Other

10

20

15

10

5

5

: transfer to Rainy Day Fund

0

500

500

500

500

500

Transactions with no GG impact

2,080

655

1,790

2,085

80

75

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