Monday, May 4, 2009

Exchequer Returns

The latest Exchequer returns are grim but the tax returns correspond with the Government's projections in the supplementary Budget. No prizes there less than a month after the projections were made. The real test will come next month when the Government is expecting to bring total revenue to €13,494M. i.e. additional €3,400M which is almost twice the revenue raised in March.

The published "Cumulative Profile for Voted Expenditure, Tax Revenue and Debt Service Expenditure" details the Government current expectations (very different from those which provided the basis for the Budget last October). This document assumed tax revenue of €10,124M for the year to end-April, which is very close to the actual outturn of €10,098M.

This document projected culmulative expenditure of €15,633M for the same period. This seems to correspond to the amount of Voted Expenditure in the April returns.

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