Dáil Éireann Debate, Thursday - 4 July 2024
237. Deputy Richard Boyd Barrett asked the Minister for Finance to provide a breakdown of general Government revenues in 2023, by source; the anticipated total changes to revenue in 2024; and if he will make a statement on the matter. [28805/24]
Amharc ar fhreagraThe Central Statistics Office (CSO) is responsible for the compilation of the general government revenue, expenditure, deficit and debt outturn statistics, whereas the Department of Finance is responsible for forecasts. These government finance statistics are compiled in accordance with the European System of Accounts 2010 (ESA2010).
The CSO provides a breakdown of general government revenues in 2023 by ESA category in Table 2.1 of the Government Finance Statistics 2023 publication, available at the following link:
Non-Financial Accounts Government Finance Statistics 2023 (April 2024) - Central Statistics Office
Table 14 in my Department’s 2024 Stability Programme Update (SPU) shows the Department’s anticipated general government revenue by category. In 2024, overall general government revenue is expected to increase by 5 per cent compared to 2023. The 2024 SPU is available at the following link:
gov - Stability Programme Update 2024 (www.gov.ie)
In compositional terms, taxes on production and imports, which are mainly indirect taxes such as VAT, excise and customs duties, are estimated to increase by 5 per cent. Taxes on income and wealth – essentially income and corporate taxes – are estimated to increase by 4 per cent relative to last year. Social contributions (that is, social security receipts) are expected to grow by 8 per cent, broadly in line with the projection for growth of the wage bill. Capital taxes, mainly capital acquisition tax, are expected to grow by 5 per cent. Property income is expected to fall by 2 per cent, while other revenues are expected to increase by 5 per cent.
