TABLE 7

EXPLANATORY TABLE OF BUDGET, 2003 (a)

CURRENT BUDGET

Revenue

€m

€m

Expenditure

€m

€m

Pre-Budget Tax Revenue

30,475

Pre-Budget Voted expenditure - Estimates for the Public Services (Abridged Version)

24,395

Tax changes

Add:

Income Tax (b):

Impact of Social Inclusion Measures

. personal tax changes

-141

Social Welfare improvements (c)

269

. other Income Tax changess

16

Health Developments

3

272

VAT measures:

187

Corporation Tax measures:

32

Impact of Non Social Inclusion Measures

Stamp Duty measures

269

Public Service Pay

615

Capital Gains Tax measures

270

Administrative Budget carryover

30

Excise measures:

311

944

Estimated Departmental Balances

-30

615

Net effect on tax projections of budget changes (d)

227

Post-Budget Tax Revenue

31,646

Post Budget Voted Expenditure

25,282

Non-Tax Revenue

1,003

Non-voted Current expenditure

3,682

Post-Budget Current Revenue

32,649

Post Budget Current Expenditure

28,964

CURRENT BUDGET SURPLUS

3,685

CAPITAL BUDGET

Pre-Budget Capital Deficit

5,405

Budget Day Capital Expenditure

209

Repayment of Department of Agriculture FEOGA payments. See notes.

-60

CAPITAL BUDGET DEFICIT

5,554

EXCHEQUER SURPLUS

-1,869

(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 full year cost of the personal income tax package in Budget 2003 is €153 million.

(c)

The full year cost of the social welfare package in Budget 2003, including expenditure from the Social Insurance Fund is €530 million.

(d)

The Budget Measures have an impact on the economy with changes in consumption and investment patterns leading to additional tax buoyancy.