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Department of Finance - Department of Public Expenditure and Reform

The Budget

Table 1

Summary of Current and Capital Budgets 2003 to 2006

2003 2004 2005 2006
Estimated Post-Budget Projection Projection
Outturn Estimate
Current Budget
€m €m €m €m
Current Expenditure
Gross Voted (Departmental expenditure voted by Dail) 28,024 30,057 31,778 33,324
Expenditure from the Social Insurance Fund Note 2 4,829 5,201 5,379 5,600
Expenditure from the National Training Fund 239 293 301 308
Non-voted (Central Fund) expenditure 3,304 3,794 4,088 4,391
Gross Current Expenditure 36,396 39,345 41,546 43,623
less Appropriations-in-aid (including SIF expenditure) Note 3 7,530 8,085 8,316 8,647
less Departmental Balances Note 4 35 30 0 0
Net Current Expenditure Tables 4 and 4a 28,831 31,230 33,229 34,976
Current Receipts
Tax Revenue Table 3 31,754 33,400 35,870 38,800
Non-Tax Revenue Table 3 1,052 819 650 667
Total Current Receipts 32,805 34,219 36,520 39,467
Current Budget Balance 3,975 2,989 3,290 4,491
Capital Budget
Capital Expenditure
Gross Voted (Departmental expenditure voted by Dail) 5,432 5,566 5,715 5,910
Non-voted (Expenditure under legislation) 378 391 380 382
Pre-funding of future pension liabilities Note 5 1,103 1,177 1,260 1,349
less Appropriations-in-Aid Note 2 90 85 92 96
Net Capital Expenditure Table 5 6,823 7,049 7,263 7,545
Capital Resources 1,339 1,254 1,164 1,117
Capital Budget Balance -5,485 -5,795 -6,099 -6,428
General Contingency Provision Note 6 624 1,344
Exchequer Balance Note 7 -1,510 -2,806 -3,432 -3,280
General Government Balance -594 -1,635 -2,127 -1,845
General Government Balance as a % of GDP -0.4% -1.1% -1.4% -1.1%
GDP Value (ESA 95 basis) 135,200 144,800 156,000 168,000
GNP Value (ESA 95 basis) 109,800 117,700 126,000 134,900
Note that figures may not add due to rounding.

Notes on Table 1

 
Note 1 The Projections reflect:
(a) the impact of the measures announced in Budget 2004;
(b) technical provisions under the expenditure and tax headings for possible future budgets, with full year costs of €700 million in 2005 and €750 million in 2006 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) a technical assumption that income to the Social Insurance Fund (SIF) will increase in line with earnings and employment while payments from the SIF will depend on the eventual distribution of the unallocated current expenditure provision in Table 4(a). This will have an impact on the Net Surplus of the SIF (as shown in Table 2), Appropriations-in-aid and the Exchequer Balance, but not on the General Government Balance;
(d) unchanged interest rates;
(e) a decrease in the assets of the capital services redemption account of €250 million in 2003 which is reflected in the figures for non-voted (Central Fund) expenditure.
Note 2 Expenditure from the Social Insurance Fund includes a payment in each year to the Department of Social and Family Affairs to cover the cost of administration of the Fund. These payments of €120m in 2003 and 2004, €126m in 2005 and €128m in 2006 are received as an appropriation-in-aid on that vote.
Note 3 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 4 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 5 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 6 A prudent contingency provision is made against factors outside the control of Government that may impact on the Budget but which cannot be foreseen at this stage. Examples are variability in tax buoyancy and exceptional costs arising in areas of public expenditure. While such variations could be both positive and negative, it is considered appropriate to allow in the projections for a negative net impact on the General Government Balance and Exchequer Balance.
Note 7 The 2003 outturn estimates are identical to the White Paper figures except for the Tax Revenue figure which is €11m higher due to the additional Excise receipts as a consequence of the Budget changes