End August Exchequer Returns
- An Exchequer surplus of €6.3 billion was recorded to end-August. This compares to a deficit of €6.7 billion recorded to end-August 2021, an improvement of €13 billion. The increase reflects strong growth in tax revenues and a decline in voted current expenditure due to the unwinding of Covid-19 supports.
- On a 12-month rolling basis, a better indicator of the trend, the Exchequer surplus stands at €5.6 billion.
- Gross revenue to end-August stood at €66.1 billion, an increase of €7.3 billion or 12.3 per cent compared to end-August 2021.
- Tax revenue to end-August stood at €49.8 billion, which was €10.4 billion or 26.3 per cent ahead of the same period last year. The increase is driven by strong growth in income tax, VAT and in particular, corporation tax.
- Non-tax revenue and capital resources for the first eight months of the year stood at €6.5 billion, down from €9.3 billion in 2021. Appropriations-in-aid of €9.9 billion brought total other revenue to €16.3 billion.
- Total expenditure to end-August was €59.8 billion. Of this, gross voted expenditure stood at €51.5 billion, which was €1.9 billion below the same period in 2021. Non-voted expenditure accounted for €8.3 billion, €3.8 billion below the same period in 2021.