TABLE  1
Summary of Current and Capital Budgets 2001 to 2004
        (see notes over)  
             
      2001 2002 2003 2004
      Estimated Post-Budget Projection Projection
      Outturn Estimate    
Current Budget          
      €m €m €m €m
  Current Expenditure          
     Gross Voted (Departmental expenditure voted by Dail)   22702 25929 28021 30058
     Non-voted (Central Fund) expenditure   3695 3423 3681 4069
     Expenditure from the Social Insurance Fund   3652 4188 4407 4609
     Gross Current Expenditure   30049 33540 36109 38736
             
 less    Appropriations-in-aid (including PRSI) Note 2 5705 6687 6805 7080
 less    Departmental Balances Note 3 95 28 0 0
             
     Net Current Expenditure Tables 4 and 4a 24248 26,825 29304 31656
             
  Current Receipts          
     Tax Revenue Table 2 27938 30328 32957 35578
     Non-Tax Revenue Table 2 800 2068 685 702
             
     Total Current Receipts   28738 32396 33642 36280
             
  Current Budget Balance   4490 5570 4338 4624
             
             
Capital Budget          
             
  Capital Expenditure          
     Gross Voted (Departmental expenditure voted by Dail)   5086 5652 6133 6631
     Non-voted (Expenditure under legislation)   114 114 112 52
     Pre-funding of future pension liabilities Note 4 972 1035 1113 1192
 less    Appropriations-in-Aid Note 2 136 127 118 111
             
     Net Capital Expenditure Tables 5 and 5a 6036 6674 7240 7764
             
             
  Capital Resources Note 5 1880 1274 972 1007
             
  Capital Budget Balance   -4156 -5400 -6268 -6757
             
             
  General Contingency Provision Note 6     1050 1550
             
             
Exchequer Balance Note 7 334 170 -2980 -3682
             
General Government Balance Note 8 1626 837 -624 -913
             
  GG Balance as a % of GDP Note 8 1.4% 0.7% -0.5% -0.6%
             
             
  GDP Value (ESA 95 basis) Note 8   115,150 124,200 134,650 145,075
  GNP Value (ESA 95 basis) Note 8   95,825 103,450 111,350 119,225
 Note that figures may not add due to rounding          
             


Notes to Table 1
 
Note 1 The Projections reflect:
(a) the impact of the measures announced in Budget 2002;
(b) technical provisions under the expenditure and tax headings for possible future budgets, with full year costs of €1.2 billion both in 2003 and in 2004 in respect of changes in tax and gross current expenditure.  The level of these changes will be subject to review in light of emerging economic conditions;
(c) unchanged interest rates;
(d) the cost of reducing corporation tax rates by 3.5 percentage points in 2003;
(e) a decrease in the assets of the capital services redemption account of €56 million in 2001,€500 million in 2002 and €250 million in 2003 which is reflected in the figures for non-voted (Central Fund) expenditure 
 
Note 2 Appropriations-in-Aid are departmental receipts which, with the approval of the Dail, may be retained by a Department or  Office to offset expenses instead of being paid into the Exchequer Account of the Central Fund.  Details of gross voted Departmental expenditure are contained in the Estimates for Public Services.  PRSI receipts accrue to the Social Insurance Fund.
 
Note 3 Departmental balances are those amounts issued from the Exchequer Account of the Central Fund for Departmental  spending in one year which remain unspent at year-end and are carried forward to be used in the next year.
 
Note 4 Under the terms of the National Pensions Reserve Fund Act, 2001, 1% of GNP annually is paid into the National Pensions Reserve Fund for the pre-funding of part of the future cost of social welfare and public service pensions.
 
Note 5 The 2001 figure includes receipts of €322 million from the sale of the ICC Investment Bank and of €408 million from the sale of the TSB.
 
Note 6 This is a contingency provision against all budgetary costs which cannot be quantified at this stage.
 
Note 7 The 2001 outturn estimates are identical to the White Paper figures except for the Tax Revenue figure which is €10 million higher due to the additional Excise receipts as a consequence of the Budget changes.
 
Note 8 The figures for GDP, GNP and GGB values are on ESA 95 basis.
 


 
Table 2
 
Current Receipts 2001 to 2004
 
  2001 2002 2003 2004
  Estimated Post-Budget Projection Projection
  Outturn   Estimate     
  €m €m €m €m
Tax Revenue        
 
Customs 161 167 174 180
Excise Duties (a) 4056 4405 4719 5046
Capital Taxes 1024 909 1178 1266
Stamp Duties 1219 1220 1269 1330
Income Tax 9097 9446 10145 11009
Corporation Tax 4289 5381 5814 6286
Value Added Tax 7858 8789 9647 10450
Agricultural Levies (EU) 11 11 11 11
Voluntary Disclosure Scheme 223      
 
Tax Receipts 27938 30328 32957 35578
 
 
Non-Tax Revenue        
 
Central Bank - Surplus Income 451 475 320 320
National Lottery Surplus 175 177 194 206
Interest on Loans & Dividends 50 53 52 50
Euro-changeover once-off receipt (b) - 610 - -
Transfer from the Social Insurance Fund (c) - 635 - -
Other Receipts 123 118 119 126
Total Non-Tax Revenue 800 2,068 685 702
 
Total Current Receipts 28,738 32,396 33,642 36,280
 
 
(a) The 2001 outturn figure reflects an addition of €10 million to the White Paper figure which is the net impact in 2001 of the changes to Excise Duties made on the 5 December 2001.         
(b) Proposed transfers from the Central Fund in respect of amounts arising in the context of the euro changeover
(c) Contribution to the Exchequer in 2002 from the Social Insurance Fund. 


Table 3
       
How gross current expenditure will be allocated
 
 
       Percentage
2002 Post-Budget       of Total
        Gross
  €m €m  Expenditure
 
Service of National Debt      
    Interest (a) 1974   5.8%
    Sinking Funds 476   1.4%
    Other debt management expenses 35   0.1%
    2484 7.3%
 
EU Budget Contribution   1381 4.1%
 
Economic Services      
    Industry and Labour 1265   3.7%
    Agriculture 1264   3.7%
    Fisheries, Forestry 113   0.3%
    Tourism 118   0.3%
    2760 8.1%
 
Infrastructure   153 0.4%
 
Social Services      
    Health 7691   22.6%
    Education 4876   14.3%
    Social Welfare 9393   27.6%
    Subsidies, etc. 345   1.0%
    22305 65.5%
 
Security   2396 7.0%
 
Other   2561 7.5%
 
 
Gross Expenditure   34040 100.0%
 
Note that figures may not add due to rounding.      
(a)  Of the €2,485 million cost of servicing the National Debt in 2002, €1,984 will be met from the Exchequer and €500m will be met by reducing the assets of the Capital Services Redemption Account.


Table 4
         
Summary of Adjustments to 2002 Net Current Estimates
         
    2002   2002
Vote Vote Estimates on Adjustments in Revised
No.   Pre-Budget basis (a) Budget 2002 Estimates
    €000s €000s €000s
1 President's Establishment........................................................................... 1,975   1,975
2 Houses of the Oireachtas and the European Parliament............................ 76,363   76,363
3 Department of the Taoiseach.................................................................... 31,664   31,664
4 Ordnance Survey Ireland........................................................................... 7,982   7,982
5 Central Statistics Office.............................................................................. 51,219   51,219
6 Office of the Minister for Finance............................................................... 84,615   84,615
7 Superannuation and Retired Allowances................................................... 190,039   190,039
8 Office of the Comptroller and Auditor General............................................ 6,191   6,191
9 Office of the Revenue Commissioners....................................................... 256,702   256,702
10 Office of Public Works.............................................................................. 147,674   147,674
11 State Laboratory....................................................................................... 6,014   6,014
12 Secret Service.......................................................................................... 900   900
13 Office of the Attorney General.................................................................. 11,441   11,441
14 Office of the Director of Public Prosecutions............................................ 24,880   24,880
15 Valuation Office........................................................................................ 7,711   7,711
16 Civil Service Commission.......................................................................... 10,474   10,474
17 Office of the Ombudsman......................................................................... 4,427   4,427
18 Office of the Chief State Solicitor..................................................................... 28,388   28,388
19 Office of the Minister for Justice, Equality and Law Reform...................... 214,604 1,465 216,069
20 Garda Siochana....................................................................................... 890,793 500 891,293
21 Prisons...................................................................................................... 261,580   261,580
22 Courts Service............................................................................................... 53,530   53,530
23 Land Registry and Registry of Deeds........................................................ 28,622   28,622
24 Charitable Donations and Bequests.......................................................... 401   401
25 Environment and Local Government......................................................... 674,425   674,425
26 Office of the Minister for Education and Science...................................... 281,183   281,183
27 First Level Education................................................................................ 1,404,344 45,500 1,449,844
28 Second Level and Further Education....................................................... 1,607,791 38,050 1,645,841
29 Third Level and Further Education........................................................... 1,201,016 5,000 1,206,016
30 Marine and Natural Resources................................................................. 108,475 2,500 110,975
31 Agriculture, Food and Rural Development................................................................................. 817,316   817,316
32 Public Enterprise....................................................................................... 310,712 16,000 326,712
33 Health and Children ..................................................................................... 6,108,145 385,395 6,493,540
34 Enterprise, Trade and Employment........................................................... 884,145 625 884,770
35 Tourism, Sport and Recreation................................................................. 185,090 14,440 199,530
36 Defence.................................................................................................... 710,703   710,703
37 Army Pensions........................................................................................... 135,839   135,839
38 Foreign Affairs........................................................................................... 147,962 5,000 152,962
39 International Co-operation......................................................................... 371,906   371,906
40 Social, Community and Family Affairs......................................................... 4,508,581 638,240 5,146,821
41 An Chomhairle Ealaion................................................................................ 42,990   42,990
42 An Roinn Ealaion Oidhreachta, Gaeltachta agus Oilean........................................... 170,832 1,000 171,832
43 National Gallery......................................................................................... 6,964   6,964
  Administrative Budget Carryover   50,000 50,000
  Provision for Benchmarking   150,000 150,000
  Total Net Voted Expenditure (b) 22,076,608 1,353,715 23,430,323
Less Departmental Balances (c) 0 -28,000 -28,000
  Exchequer Payments towards Voted Expenditure 22,076,608 1,325,715 23,402,323
Plus Non-voted Current Expenditure (i.e. Central Fund) 3,423,000 0 3,423,000
  Net Current Expenditure 25,499,608 1,325,715 26,825,323
         
         
(a)  As shown in the White Paper on Receipts and Expenditure.
(b) Departmental expenditure is net of Appropriations-in-Aid.  These are Departmental receipts which with the agreement of the Dail may be retained by a Department or Office to offset expenses instead of being paid into the Exchequer Account of the Central Fund.
(c) Departmental balances are those amounts issued from the Exchequer Account of the Central Fund for Departmental spending in one year which remain unspent at year-end and are carried forward to be used in the next year.


Table 4 (a)
       
Current Expenditure Projections - 2003 and 2004
       
       
    2003 2004
  MINISTERIAL GROUP Net Net
    €000s €000s
       
1 Taoiseach.................................................................................................................... 115,993 109,321
2 Finance......................................................................................................................... 819,772 822,501
3 Public Enterprise....................................................................................................... 334,554 346,513
4 Justice, Equality & Law Reform............................................................................. 1,483,401 1,486,139
5 Environment and Local Government..................................................................... 686,389 698,688
6 Education and Science............................................................................................. 4,863,503 4,878,864
7 Marine and Natural Resources................................................................................ 112,947 112,641
8 Agriculture, Food and Rural Development......................................................................... 824,848 827,439
9 Enterprise, Trade & Employment.......................................................................... 922,377 939,384
10 Tourism, Sport & Recreation.................................................................................. 216,735 214,976
11 Defence...................................................................................................................... 866,802 824,135
12 Foreign Affairs............................................................................................................ 574,969 695,259
13 Social, Community & Family Affairs...................................................................... 5,750,538 6,019,252
14 Health & Children...................................................................................................... 7,215,094 7,705,371
15 An Roinn Ealaion Oidhreachta, Gaeltachta agus Oilean....................................................... 226,683 228,547
  Unallocated current expenditure (a)................................................................................................. 608,395 1,677,970
  Total Voted Expenditure................................................................................... 25,623,000 27,587,000
  plus  Non-voted Current Expenditure  (i.e. Central Fund)........................................... 3,681,000 4,069,000
  Net Current Expenditure ................................................................................... 29,304,000 31,656,000
       
(a) This heading includes a provision for net expenditure Budget packages in 2003 and 2004 and a prudent provision for other expenditure items which cannot be allocated to votes at this stage.


Table 5
         
Summary of Adjustments to 2002 Capital Estimates
         
    2002   2002
Vote Vote Estimates on Adjustments in Revised
No.   Pre-Budget basis (a) Budget 2002 Estimates
    €000s €000s €000s
3 Department of the Taoiseach.................................................................... 3,600   3,600
4 Ordnance Survey Ireland........................................................................... 1,957   1,957
5 Central Statistics Office.............................................................................. 746   746
6 Office of the Minister for Finance............................................................... 17,879   17,879
9 Office of the Revenue Commissioners....................................................... 17,588   17,588
10 Office of Public Works.............................................................................. 216,817 3,440 220,257
19 Office of the Minister for Justice, Equality and Law Reform...................... 20,739   20,739
20 Garda Siochana....................................................................................... 27,036   27,036
21 Prisons...................................................................................................... 50,034   50,034
22 Courts Service............................................................................................... 31,042 250 31,292
23 Land Registry and the Registry of Deeds 1,905   1,905
25 Environment and Local Government......................................................... 2,433,386 305,340 2,738,726
26 Office of the Minister for Education and Science...................................... 34,603 5,000 39,603
27 First Level Education................................................................................ 131,400 36,000 167,400
28 Second Level and Further Education....................................................... 164,309 19,785 184,094
29 Third Level and Further Education........................................................... 208,351 7,000 215,351
30 Marine and Natural Resources................................................................. 112,389 24,500 136,889
31 Agriculture, Food and Rural Development................................................................................. 108,434 3,675 112,109
32 Public Enterprise....................................................................................... 439,676 63,000 502,676
33 Health and Children ..................................................................................... 443,040 42,535 485,575
34 Enterprise, Trade and Employment........................................................... 242,379 200 242,579
35 Tourism, Sport and Recreation................................................................. 84,292 10,405 94,697
36 Defence.................................................................................................... 24,128 19,000 43,128
38 Foreign Affairs........................................................................................... 7,489 3,000 10,489
40 Social, Community and Family Affairs......................................................... 8,953   8,953
41 An Chomhairle Ealaion................................................................................ 4,679   4,679
42 An Roinn Ealaion Oidhreachta, Gaeltachta agus Oilean........................................... 135,730 6,870 142,600
43 National Gallery......................................................................................... 2,952   2,952
44 Flood Relief………………………………………………………………. 64   64
         
  Total Net Voted Capital (b) 4,975,597 550,000 5,525,597
Plus Non-voted Exchequer Capital 113,975   113,975
Plus Pre-funding of future pension liabilities 1,034,500 0 1,034,500
  Total Expenditure 6,124,072 550,000 6,674,072
         
         
(a)  As shown in the White Paper on Receipts and Expenditure.
(b) Departmental expenditure is net of Appropriations-in-Aid.  These are Departmental receipts which with the agreement of the Dail may be retained by a Department or Office to offset expenses instead of being paid into the Exchequer Account of the Central Fund.


Table 5 (a)
       
Capital Expenditure Projections - 2003 and 2004
       
    2003 2004
Vote Vote    
No.   Net Net
    €000s €000s
3 Department of the Taoiseach.................................................................... 0 0
4 Ordnance Survey Ireland........................................................................... 2,057 2,057
5 Central Statistics Office.............................................................................. 746 746
6 Office of the Minister for Finance............................................................... 17,375 14,383
9 Office of the Revenue Commissioners....................................................... 13,738 9,088
10 Office of Public Works.............................................................................. 223,833 180,912
19 Office of the Minister for Justice, Equality and Law Reform...................... 25,414 30,175
20 Garda Siochana....................................................................................... 21,147 17,546
21 Prisons...................................................................................................... 52,010 55,407
22 Courts Service............................................................................................... 32,414 33,825
25 Environment and Local Government......................................................... 2,831,031 2,950,057
26 Office of the Minister for Education and Science...................................... 35,186 9,568
27 First Level Education................................................................................ 100,492 105,014
28 Second Level and Further Education....................................................... 116,183 121,411
29 Third Level and Further Education........................................................... 216,828 226,585
30 Marine and Natural Resources................................................................. 129,707 134,982
31 Agriculture, Food and Rural Development................................................................................. 110,019 112,539
32 Public Enterprise....................................................................................... 485,086 510,120
33 Health and Children ..................................................................................... 547,731 545,640
34 Enterprise, Trade and Employment........................................................... 284,265 349,141
35 Tourism, Sport and Recreation................................................................. 88,034 77,023
36 Defence.................................................................................................... 27,356 21,089
38 Foreign Affairs........................................................................................... 4,816 4,816
40 Social, Community and Family Affairs......................................................... 6,105 5,080
41 An Chomhairle Ealaion................................................................................ 5,079 5,079
42 An Roinn Ealaion Oidhreachta, Gaeltachta agus Oilean........................................... 164,525 176,158
43 National Gallery 952 952
  Unallocated Capital Expenditure (a) 472,700 820,550
  Total Net Voted Capital 6,014,829 6,519,943
Plus Non-voted Exchequer Capital 112,000 52,000
Plus Pre-funding of future pension liabilities 1,113,495 1,192,250
  Total Expenditure 7,240,324 7,764,193
       
       
(a) These amounts could be available for allocation across votes in 2003 and 2004 in order to make provision for the Government's infrastructural and capital committments, subject to maintaining a prudent overall fiscal position and to compatibility with other competing demands.


Table 6
 
EXPLANATION OF NET DIFFERENCE BETWEEN EXCHEQUER BALANCE AND GENERAL GOVERNMENT BALANCE
 
The Exchequer Balance is the traditional domestic budgetary aggregate which measures Central Government's net surplus or borrowing position.  It is the difference between total receipts into and total expenditure out of the Exchequer Account of the Central Fund.
The General Government Balance (GGB) measures the fiscal performance of all arms of Government, i.e. Central Government, Local Authorities, Health Boards, Vocational Education Committees and non-commercial State sponsored bodies, as well as funds such as the Social Insurance Fund and the National Pensions Reserve Fund which are managed by government agents.  It thus provides an accurate assessment of the fiscal performance of a more complete "government" sector.
The GGB does not reflect the position of commercial State sponsored bodies as these agencies are classified as being outside the General Government Sector.
The GGB is calculated in accordance with ESA95, a consistent standard developed by the EU to facilitate budgetary comparisons between EU Member States in accordance with their obligations under the Maastricht Treaty.
Details of the variation between the Exchequer Balance and the GGB are set out in the table below.
 
 
    2001 2002 2003 2004
    Estimated Post-Budget Projection Projection
    Outturn Estimate    
    €m €m €m €m
  Exchequer Surplus 334 170 -2,980 -3,682
  Interest adjustments (a) 32 -557 -22 -22
  Exclude equity and loan transactions (b) -725 -65 41 67
  Net (Borrowing)/Surplus of non-commercial State sponsored bodies -8 -2 - -
  Adjustments for Transactions between the Exchequer and Government Departments/Offices and Extra-Budgetary Funds (c) -115 -72 5 22
  Impact of the National Pensions Reserve Fund (d) 1,260 1,340 1,475 1,613
  Accrual Adjustments (e) 181 165 311 272
  Net (Borrowing)/Surplus of Central Government 959 979 -1,170 -1,730
  Net Surplus of the Social Insurance Fund 589 410 546 817
  Transfer from Social Insurance Fund   -635    
  Net (Borrowing)/Surplus of Local Authorities 78 83 - -
  General Government Balance 1,626 837 -624 -913
  Net Difference between Exchequer Surplus and GGSurplus 1,292 667 2,356 2,769
           
(a) This adjustment reflects the requirement, under ESA95 rules, that changes in the assets of the Capital Services Redemption Account and capital gains or losses on foreign exchange contracts, swaps, etc., should be excluded from the interest recorded for the purposes of calculating the GGB.  An adjustment for interest accrued but not paid on small savings is also included.
(b) Equity and loan transactions are excluded from the GGB on the basis that they affect the composition but not the level of assets and liabilities.  The sales of the Industrial Credit Corporation and the Trustee Savings Banks are treated as financial transactions under ESA95 conventions and the proceeds from these sales are not counted as income of the General Government Sector.
(c) Transfers between units within the General Government Sector do not affect the GGB.
(d) The National Pensions Reserve Fund (which was established in 2001) is within the General Government Sector and transactions within the Sector do not have an impact on the GGB.  These figures include the contributions paid from the Exchequer and a provision for interest earnings by the funds.
(e) This adjustment is required in respect of certain transactions recorded on an accruals basis in calculating the GGB.  The main adjustments are in respect of Value Added Tax receipts and Departmental Balances.


TABLE 7
EXPLANATORY TABLE OF BUDGET, 2002 (a)
CURRENT BUDGET
  Revenue €m €m   Expenditure €m €m
  Pre-Budget Tax Revenue   29,080   Pre-Budget Voted expenditure [Estimates for the Public Services (Abridged Version)   22,077
               
  Tax changes       Adjust for:    
  Income Tax reliefs:       Net revisions to Estimates (c)   170
  . changes in exemption limits, personal allowances, rates and bands -464     Add:    
  . other Income Tax concessions -34     Impact of Social Inclusion Measures    
  VAT measures: 194     Social Welfare improvements (d) 638  
  Corporation Tax measures: 780     Health Developments 215  
  Stamp Duty measures -20     Education and Science 13  
  Excise measures: 255 710   Other 1 867
  Excise measures:            
          Impact of Non Social Inclusion Measures    
  Net effect on tax projections of tax and spending changes (b)   538   Provision for Benchmarking 150  
          Education and Science Developments 75  
  Post-Budget Tax Revenue   30328   Miscellaneous: 91 317
          Estimated Departmental Balances (e)   -28
          Voted Expenditure on post-Budget basis   23402
               
  Non-Tax Revenue 823     Pre-Budget non-voted (Central Fund) expenditure as shown in the White Paper 3,631  
  Add: Euro changeover receipts 610     Deduct: Reduction in Capital Services Redemption Account Assets -208 3423
  Add: Social Insurance Fund transfer 635 2068        
               
               
  Post-Budget Current Revenue   32396   Total Current Expenditure on post-Budget basis 26826
               
               
               
CURRENT BUDGET SURPLUS           5570
CAPITAL BUDGET            
  Pre-Budget Capital Deficit         4,850  
  Add:            
  Additional Capital Expenditure         550  
CAPITAL BUDGET DEFICIT           5,400
               
EXCHEQUER SURPLUS           170
 
 
(a) This table shows the effects of the implementation of the Budget day measures on the pre-Budgetary position shown in the White Paper on Receipts and Expenditure.
(b) The Budget Measures have an impact on the economy with changes in consumption and investment patterns leading to additional tax buoyancy.
(c) This figure reflects technical adjustments to the Health and Children Vote.
(d) The full Department of Social, Community and Family Affairs expenditure in respect of the social welfare package in this Budget is €1,079 million. 
(e) Departmental balances are those amounts issued from the Central Fund for Departmental spending in one year which remain unspent at year-end and are carried forward to be used in the next year. They have no effect on Departmental spending which is governed by the allocation in the Estimates for Public Service.
 


TABLE A
 
 
TRENDS IN THE CURRENT BUDGET BALANCE,
THE EXCHEQUER BALANCE AND
THE GENERAL GOVERNMENT BALANCE FROM 1987 (a)
 
    Current Exchequer General
    Budget Balance Balance Government Balance
 
Year   €m % of GNP €m % of GNP €m % of GDP
1977   -255 -3.6 -692 -9.7 - -
1978   -504 -6.0 -1,028 -12.3 - -
1979   -663 -6.8 -1,281 -13.1 - -
1980   -695 -6.0 -1,545 -13.4 - -
1981   -1,018 -7.3 -2,186 -15.7 - -
1982   -1,255 -7.9 -2,470 -15.5 - -
1983   -1,219 -7.0 -2,230 -12.8 - -
1984   -1,319 -7.0 -2,317 -12.2 - -
1985   -1,630 -8.0 -2,559 -12.6 - -
1986   -1,771 -7.9 -2,724 -12.1 - -
1987   -1,498 -6.2 -2,268 -9.4 -2,299 -8.6
1988 (b) -403 -1.6 -786 -3.1 -1,295 -4.5
1989   -334 -1.2 -608 -2.2 -570 -1.8
1990   -193 -0.6 -587 -1.8 -801 -2.2
1991 (c) -378 -1.1 -634 -1.9 -870 -2.3
1992   -566 -1.6 -905 -2.5 -955 -2.4
1993   -481 -1.2 -876 -2.3 -979 -2.3
1994   19 0.0 -853 -2.0 -773 -1.7
1995   -460 -1.0 -796 -1.7 -1,141 -2.2
1996   371 0.7 -555 -1.1 -149 -0.3
1997   767 1.3 -298 -0.5 783 1.2
1998   2,655 3.9 948 1.4 1,784 2.3
1999   4,365 5.8 1,514 2.0 2,075 2.3
2000   6,972 8.0 3,051 3.5 4,708 4.6
2001 (d) 4,490 4.7 334 0.3 1,626 1.4
2002 (e) 5,570 5.4 170 0.2 837 0.7
 
(a) Figures are on an ESA 79 basis to 1989 and on an ESA 95 basis thereafter
(b) Inclusive of receipts of €571 million under the tax incentive scheme (amnesty).
(c) Figures exclude €343 million proceeds from the flotation of Irish Life in 1991 and €127 million of a loan made to Icarom in 1985 and repaid in 2000. All proceeds of the sales of State equity are excluded from the General Government position.
(d) Projected Outturn. Figures include receipts of €760 million from the sale of the ICC and TSB in 2001.
(e) Post Budget Estimate.
 
 


TABLE  B
 
TREND IN NATIONAL DEBT AND GENERAL GOVERNMENT DEBT
 
 
  National Debt General Government Debt (a)
 
Year €m % of GNP €m % of GDP
1977 5370 75.2 - -
1978 6561 78.6 - -
1979 8304 85.0 - -
1980 10026 87.0 - -
1981 12945 93.2 - -
1982 14817 92.9 - -
1983 18274 104.8 - -
1984 21358 112.8 - -
1985 23493 115.6 - -
1986 27440 122.2 - -
1987 30085 125.0 - -
1988 31250 122.7 - -
1989 31525 111.9 - -
1990 31849 99.0 34032 93.7
1991 32223 95.9 35829 95.1
1992 33450 94.1 36855 92.1
1993 36006 93.3 41543 96.1
1994 37111 88.8 42069 90.5
1995 38358 82.1 43692 82.9
1996 37980 73.7 43066 74.2
1997 38967 66.1 43605 65.1
1998 37509 55.4 42276 54.8
1999 39848 52.6 43891 49.3
2000 36441 41.8 39918 38.6
 
(a) ESA 95 basis from 1990
 
The General Government Debt essentially includes the cumulative gross debt of the local authorities and the non-commercial state sponsored bodies as well as nearly all of the National Debt measured on a gross basis.  It excludes Central Government liabilities to institutions classified within the General Government sector; these are included in the National Debt.
It should be noted that the National Debt is calculated net of domestic and foreign liquid assets whereas the General Government Debt is calculated on a gross basis.  The debt of the commercial state bodies is excluded from both National Debt and General Government Debt.
The Finance Accounts for each year contains a detailed breakdown of the National Debt.


TABLE C
TREND IN SERVICE OF NATIONAL DEBT
AS A % OF NET CURRENT EXPENDITURE AND
AS A % OF OVERALL TAXATION
         
    Service of National Debt
Year   €m % of Net Current Expenditure (a) As a % of Tax Revenue (b)
1977   424 17.1 22.5
1978   531 17.3 24.2
1979   653 17.7 25.6
1980   839 17.9 25.2
1981   1,124 18.5 26.7
1982   1,586 21.2 30.8
1983   1,849 21.8 31.1
1984   2,165 24.5 32.1
1985   2,498 25.8 35.2
1986   2,526 24.5 32.6
1987   2,689 25.4 32.6
1988   2,719 26.6 31.2
1989   2,719 26.7 28.8
1990   2,920 27.3 29.1
1991   2,985 25.9 28.2
1992   2,990 24.0 26.4
1993   3,035 22.7 24.8
1994   2,828 19.9 21.0
1995   3,054 19.9 21.3
1996   2,997 18.6 18.8
1997   3,498 19.6 19.3
1998   3,249 17.8 15.9
1999   3,190 16.2 13.5
2000   2,847 13.6 10.5
2001 (c) 2,448 10.1 8.8
2002 (d) 2,484 9.3 8.2
         
         
(a) Current expenditure is measured on a net basis as in Table 4.
(b) PRSI receipts are not included in Tax Revenue.
(c) Provisional Outturn.
(d) Post-Budget Estimate.