1. The following tables bring together estimates of the consolidated capital and current accounts of General Government which includes the Exchequer, various extra-budgetary funds (e.g. the Social Insurance Fund), various non-commercial semi-state bodies and local Government, classified according to the definitions employed in national income accounting. The main purpose of the presentation is to provide a basis for relating the income and expenditure of General Government to such national income aggregates as saving, investment and personal income, whereas many other budgetary documents cannot be readily used in this way. The presentation thus gives a more comprehensive view of fiscal policy than would be possible on the basis of the budgetary accounts alone.

2. The figures shown for 1999 are based on data supplied by the Central Statistics Office. Figures for 2000 are provisional and are subject to revision when the Appropriation Accounts and other final accounts become available. The estimates shown for 2001 are consistent with the Budget Day projections.

3. Transactions between the various funds and accounts are eliminated so as to show the net flows between the General Government sector and the rest of the economy. Current transactions of government trading activities are omitted, but estimates of the gross surplus on these activities are included in item 12.

4. The various definitions employed are similar to those used in Table 21 of the National Income and Expenditure accounts published by the Central Statistics Office. It should be noted that there are some differences in presentation between Table 21 as published in the National Income and Expenditure and the following tables as some of the headings used in Table 21 have been amalgamated. Additionally, items 29 (Capital receipts less Financial Transactions) and 37 (Capital expenditure less Financial Transactions) are included to facilitate the calculation of a Net Lending figure - this is also known as the General Government Surplus.

5. It should be noted that Net Lending/Borrowing (item 40) varies from the Exchequer Surplus shown in the Exchequer Budgetary accounts. The reasons for these differences are:

an adjustment, in accordance with ESA conventions, to the National Debt interest charge to exclude changes in the assets of the Capital Services Redemption Account and capital gains or losses on foreign exchange contracts, swaps, etc.;
the exclusion of equity and loan transactions from the General Government Surplus on the basis that such transactions affect the composition but not the level of assets and liabilities. The proceeds from the sale of shares in Eircom in 1999 and 2000 are treated as a financial transaction under ESA conventions and are not counted as income of the General Government Sector, whereas these receipts are included as Exchequer income;
payments in respect of the prefunding of future pension liabilities do not impact on the General Government Surplus as they are treated as part of the General Government Sector under ESA conventions and transactions within the Sector do not impact on the General Government Surplus. However, such payments are included as expenditure in the calculation of the Exchequer Surplus;
the treatment of extra-budgetary fund transactions of which the most notable examples are assigning payments from Funds such as the Hepatitis C Trustee Fund to the year in which actual payments are made from the Funds whereas the impact on the budgetary arithmetic occurs in the year in which transfers were made from the Exchequer to the Funds;
the accrual of certain transactions to the period when the underlying economic activity took place. This includes (i) Departmental and Revenue Commissioners Balances carried from one year to another which are discounted in favour of the underlying transactions, and (ii) an adjustment to tax receipts to accrue the receipts to the period when the underlying economic activity giving rise to the tax liability took place; and
including the full impact of local government whereas the Exchequer Surplus only includes transfers between local government and the Exchequer.

The differences between the Exchequer Surplus and Net Lending (the General Government Surplus) is shown in tabular form in Table 6 of the Budget 2001 Statistics and Tables.

NATIONAL ACCOUNTS CLASSIFICATION OF GENERAL GOVERNMENT

Note: Rounding may affect totals

Part I

SUMMARY

	1999	2000	2001
		Provisional	Budget
		Outturn	Estimate
	£m	£m	£m
RECEIPTS
1. Current (15)	24,151	27,906	30,691
2. Capital (29)	1,512	1,920	2,450
3. Total Receipts (1 + 2)	25,663	29,825	33,140

EXPENDITURE
4. Current (21)	19,878	21,927	24,226
5. Capital (37)	4,315	4,098	5,014
6. Total Expenditure (4 + 5)	24,193	26,026	29,240
7. Net Lending(+)/Borrowing(-) (3 - 6 = 40)	1,470	3,800	3,900

Part II
CURRENT ACCOUNT

	1999	2000	2001
		Provisional	Budget
		Outturn	Estimate
	£m	£m	£m
RECEIPTS
8. Taxes on income and wealth	9,324	10,520	11,402
9. Social insurance and health contributions	2,910	3,424	3,729
10. Taxes on expenditure	9,257	10,910	12,484
11. Total taxation (excluding taxes on capital)	21,491	24,854	27,615
12. Gross trading and investment income	741	981	1,115
13. Current transfers from the rest of the world	460	451	330
14. Miscellaneous Receipts	1,460	1,620	1,631
15. Total receipts on Current Account	24,151	27,906	30,691
EXPENDITURE
16. Subsidies:	719	820	820
17. National debt interest	1,698	1,633	1,687
18. Current transfer payments:
to residents	7,225	7,840	8,826
to ROW	519	556	678
19. Current expenditure on goods and services (including depreciation)	4,583	5,225	5,851
20. Current expenditure on goods and services by local authorities	5,133	5,853	6,363
21. Total expenditure on Current Account	19,878	21,927	24,226
22. Gross Saving (+)/Deficit(-) [15-21]	4,273	5,979	6,465

Part III
CAPITAL ACCOUNT

	1999	2000	2001
		Provisional	Budget
		Outturn	Estimate
RECEIPTS	£m	£m	£m
23. Taxes on capital	509	814	943
24. Loan repayments	3,793	1,355	69
25. Capital transfers from ROW	509	513	796
26. Capital receipts	494	593	711
27. Borrowing	(2,211)	(4,578)	(3,367)
28. Total receipts on Capital Account	3,093	(1,303)	(848)
29. Capital receipts less Financial Transactions [24. 27.]	1,512	1,920	2,450

EXPENDITURE
30. Grants to private sector	1,686	550	353
31. Other transfers payments	365	417	640
32. Debt Redemption	2,872	418	417
33. Loans and purchase of share capital	179	159	185
34. Gross physical capital formation	2,248	3,123	4,011
35. Capital payments to ROW	16	7	9
36. Total expenditure on Capital Account	7,366	4,675	5,615
37. Capital expenditure less Financial Transactions [32. 33.]	4,315	4,098	5,014
38. Current Saving (+)/Deficit (-) [22]	4,273	5,979	6,465
39. Capital Saving (+)/Deficit (-) [29 - 37]	(2,803)	(2,179)	(2,565)
40. Net Lending (+)/Borrowing (-)	1,470	3,800	3,900

NATIONAL ACCOUNTS CLASSIFICATION OF GENERAL GOVERNMENT

Note: Rounding may affect totals

Part I

SUMMARY

	1999	2000	2001
		Provisional	Budget
		Outturn	Estimate
	€m	€m	€m
RECEIPTS
1. Current (15)	30,666	35,433	38,969
2. Capital (29)	1,919	2,437	3,110
3. Total Receipts (1 + 2)	32,585	37,870	42,079

EXPENDITURE
4. Current (21)	25,240	27,842	30,761
5. Capital (37)	5,479	5,204	6,366
6. Total expenditure (4 + 5)	30,719	33,046	37,127
7. Net Lending(+)/Borrowing(-) (3 - 6 = 40)	1,866	4,825	4,952

Part II
CURRENT ACCOUNT

	1999	2000	2001
		Provisional	Budget
		Outturn	Estimate
	€m	€m	€m
RECEIPTS
8. Taxes on income and wealth	11,839	13,358	14,478
9. Social insurance and health contributions*	3,694	4,348	4,735
10. Taxes on expenditure	11,755	13,853	15,852
11. Total taxation (excluding taxes on capital)	27,288	31,558	35,064
12. Gross trading and investment income	940	1,246	1,415
13. Current transfers from the rest of the world	584	572	419
14. Miscellaneous Receipts	1,854	2,057	2,071
15. Total receipts on Current Account	30,666	35,433	38,969

EXPENDITURE
16. Subsidies:	913	1,041	1,042
17. National debt interest	2,156	2,074	2,143
18. Current transfer payments:
to residents	9,174	9,955	11,206
to ROW	659	706	861
19. Current expenditure on goods and
services (including depreciation)	5,819	6,634	7,430
20. Current expenditure on goods and services	6,518	7,432	8,079
by local authorities
21. Total expenditure on Current Account	25,240	27,842	30,761
22. Gross Saving (+)/Deficit(-) [15-21]	5,426	7,591	8,208

Part III
CAPITAL ACCOUNT

RECEIPTS	1999	2000	2001
		Provisional	Budget
		Outturn	Estimate
	€m	€m	€m
23. Taxes on capital	647	1,034	1,197
24. Loan repayments	4,816	1,721	88
25. Capital transfers from ROW	646	652	1,010
26. Capital receipts	627	752	903
27. Borrowing	(2,808)	(5,813)	(4,275)
28. Total receipts on Capital Account	3,928	(1,655)	(1,076)
29. Capital receipts less Financial Transactions [24. 27.]	1,919	2,437	3,110
EXPENDITURE
30. Grants to private sector	2,141	699	448
31. Other transfer payments	464	530	812
32. Debt Redemption	3,647	531	529
33. Loans and purchase of share capital	227	202	235
34. Gross physical capital formation	2,854	3,966	5,093
35. Capital payments to ROW	20	9	12
36. Total expenditure on Capital Account	9,353	5,937	7,130
37. Capital expenditure less Financial Transactions [32. 33.]	5,479	5,204	6,366
38. Current Saving (+)/Deficit (-) [22]	5,426	7,591	8,208
39. Capital Saving (+)/Deficit (-) [29 - 37]	(3,560)	(2,766)	(3,255)
40. Net Lending (+)/Borrowing (-)	1,866	4,825	4,952