ESTIMATES OF RECEIPTS AND EXPENDITURE FOR THE YEAR ENDING 31 DECEMBER 2001

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Prepared by the Government and presented to Dáil Éireann in accordance with the provisions of Article 28 of the Constitution.

EXPLANATORY NOTES

1.      Basis of figures

         The figures shown for receipts and expenditure in 2000 are projected outturns and reflect present knowledge.  They are subject to revision when the end-year figures become available.  Fully audited details for 2000 will be available in the 2000 Finance Accounts to be published not later than 30 September 2001.

2.       Revenue

          The estimate of revenue for 2001 is based on the tax provisions in force at present.  

3.      Expenditure

          The Estimates for Public Services (Abridged Version) & Summary Public Capital Programme 2001 (AEV), was published on 16 November 2000.  The estimated expenditure figures for 2001 contained in the White Paper are consistent with those published in the AEV.  However, the 2000 outturn figures for voted expenditure are different from the 2000 figures which were published in the AEV as the figures have been revised to reflect more up-to-date information.  

4.      Appropriations-in-Aid

         Voted expenditures are shown net of Appropriations-in-Aid.  These are receipts which, with the agreement of the Dáil, may be retained by a Department or Office to offset expenditures instead of being paid into the Exchequer Account of the Central Fund.  Details of gross voted expenditures by Departments are contained in the Estimates for Public Services (Abridged Version) & Summary Public Capital Programme 2001.  

5.        PRSI

PRSI contributions are paid into the Social Insurance Fund (SIF) and do not form part of the revenues paid into the Central Fund as is explained in the following paragraphs.  

Disbursements by the Department of Social Community and Family Affairs fall under three main categories, namely, 

(a)                payments out of the SIF which are related to the entitlement of persons under their insurance/PRSI/benefit record, e.g. unemployment benefit, contributory pensions, etc., 

(b)                payments to persons who have ceased to qualify or have never qualified under their insurance/PRSI/benefit record to be paid out of the SIF, e.g. unemployment assistance, non-contributory pensions, etc., and 

(c)                other payments such as grants to organisations. 

The amount voted by the Dáil to the Department of Social Community and Family Affairs is composed of payments falling under (b) and (c) above, together with any sum needed by the SIF to ensure that the total income of the fund is not less than the total sum paid out of the Fund in any year.

 For most past years, an Exchequer contribution has been required to meet the shortfall on SIF.  However, no Exchequer contribution has been required since 1997.   

6.  Proceeds from sale of shares in Eircom (Telecom Eireann)

The proceeds from the sale of shares in Eircom (formerly Telecom Eireann) in 2000 are included as Capital Receipts (see Note 5 on page F. 8). 

These receipts were placed in the Temporary Holding Fund as outlined in paragraph 7 below.

7.      Prefunding of future pensions liabilities

In 1999 the Government decided to provide resources for prefunding part of the future cost of social welfare and public service pensions, and to set aside 1% of Gross National Product annually for this purpose.  A major tranche of the proceeds from the sale of shares in Eircom were also used for this purpose.  A Temporary Holding Fund for Superannuation Liabilities was established in December 1999, and a permanent National Pensions Reserve Fund will be established early in 2001.  The 2000 and 2001 provisions for pre-funding are shown in Note 7 (see page F. 9).  The 2000 provision of £1.85 billion is made up of the £1.17 billion received from the sale of shares in Eircom and £0.68 billion as the 1% of GNP contribution.

8.         Tables in Euro

The Tables and Notes shown on pages F. 5 to F. 9 are denominated in IR£.  Copies of these tables denominated in euros are shown on pages F. 10 to F. 14.