2002 Estimates of Receipts and Expenditure for the Year Ending 31 December 2002

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 2001 are projected outturns and reflect present knowledge.They are subject to revision when the end-year figures become available.Fully audited details for 2001 will be available in the 2001 Finance Accounts to be published not later than 30 September 2002.

2. Revenue

The estimate of revenue for 2002 is based on the tax provisions in force at present. The projected outturn for 2001 includes €223 million collected under the Voluntary Disclosure Scheme (see Note 1 on page 6).

3. Expenditure

The Estimates for Public Services (Abridged Version)& Summary Public Capital Programme 2002 (AEV), was published on 15 November 2001.The estimated expenditure figures for 2002 contained in the White Paper are consistent with those published in the AEV. However, the 2001 outturn figures for voted expenditure are different from the 2001 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 2002.

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. Prefunding of future pensions liabilities

The National Pensions Reserve Fund Act, 2000 provides for prefunding part of the future cost of social welfare and public service pensions, and the setting aside of 1% of estimated Gross National Product (GNP) annually for this purpose (see Note 7)

7. Proceeds from sale of ICC Investment Bank and TSB  

The proceeds from the sale of ICC Investment Bank and TSB in 2001 are included as Capital Receipts (see Note 5).  

8.   Service of National Debt

The 2001 projected Central Fund outturn reflects a reduction of €56 million in the assets of the Capital Services Redemption Account. The 2002 figure reflects a reduction of €292 million in these assets.  

9.   Tables in Euro

The Tables and Notes shown on pages 4 to 10 are denominated in euros. Tables and Notes in Irish pound equivalents are shown on pages 11 to 17. Rounding may affect totals.

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