PowerPoint Presentation

Researching Alternative Economic Policies

Tom HealyCongress Economic Research UnitDublinTom.healy@eru.ie

Dublin Economics Workshop 2012

Istvn Szkely I would encourage everyone to bring up evidence because this discussion should be evidence-based .let me reiterate our strong commitment to listen to social partners, to NGOs and to everyone in this society and if issues are raised and evidence is provided and there is a constructive way of working together we will work together with everyone to find solutions to difficult problems in relation to issues such as unemployment and the vulnerable.Key pointsLabour Market/unemploymentDomestic economyAre we being European (genuinely?)Realistic economic policy optionsTrends in govt. spend & RevenueTrends in govt. spend & Revenue ex bank recap 2010Total Govt Revenue % GDP 2010

Total Govt Revenue % GDP 2015Total Govt Revenue % GDP 2016International Monetary Fund, World Economic Outlook Database, September 2011Moving further away from EU norms

There is No Alternative?

We were there beforeIs fidir linnChart132.333.83434.935.536.136.337.539.339.339.540.340.94141.441.643.644.345.245.846.248.148.849.552.552.755.5

ReadmeNotes about Eurostat DataGovernment finance statistics (GFS) present the economic activities of government in a harmonized and comparable way, with an emphasis on the economic substance over the legal form of the event. GFS hence noticeably differ from the budget presentations orThe GFS presentation shows in an integrated manner: government revenue, government expenditure, government deficit, transactions in assets, transactions in liabilities, other economic flows, and balance sheets. This presentation is similar to that of busiGo to http://epp.eurostat.ec.europa.eu/portal/page/portal/government_finance_statistics/data/databaseand click on Government StatisticsNote that payments under bank recapitalisation are treated as capital transfers and not capital transactions. This accounts for 4bn in 2009 and is includedin Eurostat data for 2009. However, 2010 data presented in Dec09 SPU data exclude transfers in 2010. Latter may come to over 20bn.EU27 Rank (2009)123456789101112131415161718192021222324252627

Go to http://epp.eurostat.ec.europa.eu/portal/page/portal/government_finance_statistics/data/database

SummaryGovernment Revenue and Expenditure as % GDP EU15 countries (average) and Irelandfor various yearsSpendRevenueEU27EU15Ireland %GDPIreland %GNPEU27EU15Ireland %GDPIreland %GNP199748.436.741.945.938.143.5199847.347.534.539.545.445.736.842.1199946.846.934.140.145.846.136.743.2200045.245.331.336.745.445.736.142.4200146.246.333.239.644.845.134.240.8200246.746.833.540.944.244.433.240.6200347.347.433.239.344.144.433.639.8200446.947.133.539.644.044.234.941.2200546.947.133.940.144.444.735.642.1200646.446.634.439.644.945.337.443.0200745.846.036.642.644.945.336.742.7200846.947.342.048.944.645.134.740.4200950.751.248.458.943.944.434.141.5201046.858.735.244.1201145.535.5201243.536.4201341.536.7201440.037.2GNPGDP199759,44067,93414.3199868,59078,53514.5199976,82890,37817.6200089,342104,83017.3200197,955116,93119.42002106,562130,25822.22003118,039139,76318.42004126,219149,09818.12005137,188162,09118.22006154,078177,34315.12007162,853189,37416.32008154,672179,98916.42009131,241159,64621.62010125,500157,30025.377.063363892683.06314488792011127,900161,20026.02012132,500168,10026.92013137,600175,40027.52014143,400183,50028.0

CSO Quarterly release Sep 2010CSO Quarterly Sep2010DOF Economic and Fiscal Outlook Dec2010; page D9DOF Economic and Fiscal Outlook Dec2010; page D9

GDP GNI2009 dataGNIGDPRatioEuro area$8,899,260$8,959,4490.7Euro area (16 countries)$8,899,260$8,959,4490.7Euro area (15 countries)$8,836,685$8,896,1170.7EU (27 countries)$11,748,223$11,787,2790.3EU (25 countries)$11,601,371$11,637,5330.3EU (15 countries)$10,905,803$10,917,3160.1Austria$269,706$273,2341.3Belgium$341,734$338,960-0.8Bulgaria$33,859Cyprus$16,947Czech Republic$137,403Denmark$229,162$223,249-2.6Estonia$13,538$13,8612.4Finland$171,700$171,442-0.2France$1,922,934$1,907,225-0.8Germany$2,430,950$2,395,000-1.5Greece$230,938$237,4942.8Hungary$93,431Ireland$132,581$159,66720.4Italy$1,494,053$1,520,3471.8Latvia$20,036$18,584-7.2Lithuania$26,709$26,650-0.2Luxembourg$37,64532.4Malta$5,748Netherlands$557,115$571,9792.7Poland$310,379Portugal$161,937$167,6523.5Romania$115,627Slovakia$62,576$63,3321.2Slovenia$34,502$35,1962.0Spain$1,053,914United Kingdom$1,597,447$1,563,412-2.1Source of Data::EurostatLast update:15.09.2010Date of extraction:17 Sep 2010 10:10:03 MESTHyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina010General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmShort Description:Gross domestic product (GDP) at market prices is the final result of the production activity of resident producer units (ESA 1995, 8.89). It is defined as the value of all goods and services produced less the value of any goods or services used in their cEurostat15.09.201017 Sep 2010 09:52:18 MESThttp://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina080http://europa.eu/geninfo/legal_notices_en.htmGross national income (at market prices) (ESA 1995, 8.94) represents total primary income receivable by resident institutional units: compensation of employees, taxes on production and imports less subsidies, property income (receivable less payable), gro

estimated from 2008 datahttp://europa.eu/geninfo/legal_notices_en.htmhttp://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina080http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina010http://europa.eu/geninfo/legal_notices_en.htm

EU Spendgov_a_main-Government revenue, expenditure and main aggregatesUPDATED 08 December 2011GEO/TIME1995199619971998199920002001200220032004200520062007200820092010European Union (27 countries)52.249.848.247.346.844.746.146.647.246.846.846.345.647.151.050.6Euro area (17 countries)53.150.549.348.548.246.247.347.648.147.547.446.746.147.151.150.9EU27 Rank (2010)Denmark59.358.956.756.355.553.754.254.655.154.652.851.650.851.958.458.21France54.454.554.252.852.651.751.752.953.453.353.653.052.653.356.756.62Finland61.560.256.653.051.848.448.049.050.350.250.449.247.449.355.955.33Belgium52.152.451.250.450.149.149.149.851.049.352.148.648.349.953.852.94Sweden64.962.960.758.858.155.154.555.655.754.253.952.751.051.755.052.75Austria56.355.953.553.753.451.951.350.751.353.850.049.148.649.352.952.56Portugal41.542.141.140.841.041.142.542.343.844.745.844.544.444.849.951.37Netherlands56.449.447.546.746.044.245.446.247.146.144.845.545.346.251.551.28United Kingdom43.942.340.539.538.936.840.241.142.143.044.144.243.947.951.450.49Italy52.552.550.249.248.145.947.747.148.147.547.948.547.648.651.650.310Greece45.744.144.944.344.446.745.345.144.745.544.645.247.650.653.850.211Slovenia52.344.244.545.446.246.547.346.246.245.745.344.642.544.249.350.112Hungary55.851.449.951.249.247.847.851.549.749.150.152.150.649.251.449.513Germany54.949.148.248.048.245.147.647.948.547.146.945.343.544.048.147.914Ireland40.938.936.534.433.931.233.033.433.133.533.834.336.642.848.946.815Cyprus33.435.436.536.736.737.138.040.044.642.443.142.641.342.146.246.416Spain44.443.241.641.139.939.238.738.938.438.938.438.439.241.546.345.617Poland47.751.046.444.342.741.143.844.344.742.643.443.942.243.244.545.418Latvia38.636.936.340.241.937.635.036.034.935.935.838.335.939.144.244.419Czech Republic53.041.742.643.042.241.643.945.650.043.343.042.041.041.144.944.120Malta39.742.642.943.043.140.342.442.646.745.244.644.342.744.043.342.921Luxembourg39.741.140.741.139.237.638.141.541.842.641.538.636.337.143.042.522Lithuania34.436.449.640.139.938.936.634.633.033.233.233.534.637.243.840.923Romania34.133.234.635.839.238.636.235.033.533.633.635.538.239.341.140.924Estonia41.339.537.439.240.136.134.835.834.834.033.633.634.039.545.240.625Slovakia48.653.748.945.848.152.144.545.140.137.738.036.534.234.941.540.026Bulgaria45.444.032.939.440.041.340.639.639.138.637.334.439.838.340.738.127Last update02.12.11Extracted on08.12.11Source of DataEurostatShort DescriptionShort Description is not availableUNITPercentage of GDPSECTORGeneral governmentINDIC_NATotal general government expenditureBulgaria38.1Slovakia40.0Estonia40.6Lithuania40.9Romania40.9Luxembourg42.5Malta42.9Czech Republic44.1Latvia44.4Poland45.4Spain45.6Cyprus46.4Ireland46.8Germany47.9Hungary49.5Slovenia50.1Greece50.2Italy50.3United Kingdom50.4Netherlands51.2Portugal51.3Austria52.5Sweden52.7Belgium52.9Finland55.3France56.6Denmark58.2Ireland37.5Bulgaria38.1Slovakia40.0Estonia40.6Lithuania40.9Romania40.9Luxembourg42.5Malta42.9Czech Republic44.1Latvia44.4Poland45.4Spain45.6Cyprus46.4Germany47.9Hungary49.5Slovenia50.1Greece50.2Italy50.3United Kingdom50.4Netherlands51.2Portugal51.3Austria52.5Sweden52.7Belgium52.9Finland55.3France56.6Denmark58.2

EU Spend000000000000000000000000000

EU Revenue000000000000000000000000000

EU Gov Debt[tec00021] - Total general government revenue; General government(% of GDP)UPDATED 08 DECEMBER 2011geo\time1995199619971998199920002001200220032004200520062007200820092010EU (27 countries)45.045.645.545.345.845.344.644.044.043.944.344.844.744.744.144.1Euro area (17 countries)45.646.246.446.146.646.145.344.944.944.644.945.445.445.044.744.6EU27 Rank (2010)Denmark56.456.956.156.256.855.855.454.855.056.457.856.655.655.255.655.51Sweden57.659.659.059.758.958.756.154.154.454.655.854.954.553.954.152.72Finland55.456.755.354.653.455.453.153.152.852.553.053.352.753.653.252.53France48.950.550.950.150.850.250.049.649.349.650.650.649.949.949.249.54Belgium47.648.448.949.449.549.049.549.650.948.949.348.748.048.648.048.85Austria50.451.751.551.251.050.151.149.849.749.248.247.547.648.348.748.16Netherlands47.247.546.345.846.446.145.144.143.944.344.546.145.446.746.046.27Italy45.045.447.546.246.145.044.544.044.444.043.445.046.045.946.345.88Hungary47.146.944.343.644.044.743.742.542.442.642.242.745.645.546.945.29Slovenia44.043.042.243.043.142.843.443.843.643.543.843.242.442.443.244.310Germany45.445.745.545.746.646.244.544.144.343.343.643.743.744.044.943.611Portugal36.537.537.837.338.338.238.239.440.741.339.940.541.141.139.741.612Luxembourg42.142.344.344.442.643.644.243.642.241.541.539.939.940.142.141.413Cyprus32.532.231.432.532.334.735.735.638.038.340.741.444.843.140.141.014Estonia42.439.139.638.536.735.934.736.036.535.635.236.136.436.543.240.915United Kingdom38.038.038.339.439.840.440.739.038.739.540.741.541.142.940.140.316Greece36.737.439.040.541.343.040.940.339.038.139.039.240.840.738.039.517Czech Republic40.238.539.038.138.638.038.339.143.340.439.839.640.338.939.139.318Malta35.534.635.333.135.334.536.036.737.540.541.741.540.339.439.639.319Poland43.346.141.840.140.438.138.539.338.537.239.440.240.339.537.237.520Spain37.237.737.638.038.738.238.138.738.038.839.740.741.137.035.136.321Latvia37.036.537.840.238.034.833.033.733.334.935.437.835.634.934.636.122Ireland38.938.837.936.636.535.934.033.133.634.935.437.236.735.434.735.523Bulgaria37.533.933.740.740.140.741.738.438.740.438.336.240.940.036.334.924Romania32.129.630.232.534.833.932.733.032.032.332.433.335.333.632.134.025Lithuania32.933.137.937.137.135.733.132.731.831.732.733.033.633.934.333.826Slovakia45.243.842.640.540.739.938.036.837.435.335.233.332.432.833.532.327Source of Data::EurostatSource of Data::EurostatLast update:30.09.2011Date of extraction:08.12.11Hyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tec00021General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmCode:tec00021Short Description:Total general government revenue is defined in ESA-95 8.99 by reference to a list of categories: market output, output for own final use, payments for the other non-market output, taxes on production and imports, other subsidies on production, receivableTotal general government revenue is defined in ESA-95 8.99 by reference to a list of categories: market output, output for own final use, payments for the other non-market output, taxes on production and imports, other subsidies on production, receivableSlovakia32.3Lithuania33.8Romania34.0Bulgaria34.9Ireland35.5Latvia36.1Spain36.3Poland37.5Czech Rep39.3Malta39.3Greece39.5UK40.3Estonia40.9Cyprus41.0Luxe41.4Portugal41.6Germany43.6Slovenia44.3Hungary45.2Italy45.8Netherl46.2Austria48.1Belgium48.8France49.5Finland52.5Sweden52.7Denmark55.5GDP per capita in Purchasing Power StandardsPPS (EU-27 = 100)geo\time2010EU (27 countries)100S80/S20Liechtenstein:Montenegro:Luxembourg2744.1Norway1793.4Netherlands1333.7Ireland1274.2Austria1263.7Denmark1254.7Sweden1233.5Belgium1193.9Germany1174.5Finland1163.6United Kingdom1145.2Iceland1103.6France1074.5Spain1006.9Italy1005.2Greece885.6Slovenia863.4Malta834.3Czech Republic823.5Portugal815.6Slovakia743.8Estonia645Hungary633.4Poland625Lithuania587.3Latvia526.9Romania456Bulgaria445.9

EU Gov Debt

EU Deficits[tsieb090] - General government debtGeneral government consolidated gross debt as a percentage of GDP199519961997199819992000200120022003200420052006200720082009EU (27 countries)::68.366.465.861.96160.461.962.262.861.458.861.673.6EU (25 countries)68.770.368.566.76662.161.260.662.162.563.261.959.462.374.3EU (15 countries)69.771.669.86867.163.262.361.663.163.464.362.860.4::Euro area (16 countries)72.273.873.372.971.769.268.26869.169.570.168.36669.478.7Euro area (15 countries)72.37473.473.171.869.368.368.169.269.670.368.566.269.779EU27 Rank (2009)Italy121.5120.9118.1114.9113.7109.2108.8105.7104.4103.8105.8106.5103.5106.1115.81Greece97.099.496.694.594.0103.4103.7101.797.498.6100.097.895.799.2115.12Belgium130.4127.3122.7117.4113.7107.9106.6103.598.594.292.188.184.289.896.73Hungary85.271.462.059.959.855.052.055.658.459.161.865.665.972.978.34France55.558.059.259.458.957.356.958.862.964.966.463.763.867.577.65Portugal61.059.956.152.151.450.552.955.656.958.363.664.763.666.376.86Germany55.658.459.760.360.959.758.860.463.965.868.067.665.066.073.27Malta35.340.148.453.457.155.962.160.169.372.370.163.761.963.769.18United Kingdom51.251.349.846.743.741.037.737.539.040.942.543.544.752.068.19Austria68.368.364.464.867.266.567.166.565.564.863.962.259.562.666.510Ireland82.173.564.353.648.537.835.632.231.029.727.424.925.043.964.011Netherlands76.174.168.265.761.153.850.750.552.052.451.847.445.558.260.912Cyprus40.642.846.751.251.848.752.164.668.970.269.164.658.348.456.213Spain63.367.466.164.162.359.355.552.548.746.243.039.636.239.753.214Poland49.043.442.938.939.636.837.642.247.145.747.147.745.047.251.015Finland56.657.053.948.445.743.842.541.544.544.441.739.735.234.244.016Sweden72.273.071.069.164.853.654.452.652.351.150.845.740.838.342.317Denmark72.669.465.461.458.152.449.649.547.245.137.832.127.434.241.618Latvia15.113.911.19.612.512.314.013.514.614.912.410.79.019.536.119Slovenia::::::26.828.027.527.227.026.723.422.635.920Slovakia22.131.133.834.547.950.348.943.442.441.534.230.529.327.735.721Czech Republic14.612.513.115.016.418.524.928.229.830.129.729.429.030.035.422Lithuania11.914.315.616.622.823.723.122.321.119.418.418.016.915.629.323Romania7.011.115.216.621.722.525.724.921.518.715.812.412.613.323.724Bulgaria::105.179.679.374.367.353.645.937.929.222.718.214.114.825Luxembourg7.47.47.47.16.46.26.36.36.16.36.16.56.713.714.526Estonia9.07.46.25.56.05.14.85.75.65.04.64.53.84.67.227Footnotes...:http://epp.eurostat.ec.europa.eu/cache/ITY_SDDS/Annexes/gov_dd_esms_an13.htmSource of Data::EurostatLast update:09.09.2010Date of extraction:14 Sep 2010 10:23:25 MESTHyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tsieb090General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmShort Description:EU definition: the general government sector comprises the subsectors of central government, state government, local government and social security funds. GDP used as a denominator is the gross domestic product at current market prices. Debt is valued atEU definition: the general government sector comprises the subsectors of central government, state government, local government and social security funds. GDP used as a denominator is the gross domestic product at current market prices. Debt is valued at

http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tsieb090http://epp.eurostat.ec.europa.eu/cache/ITY_SDDS/Annexes/gov_dd_esms_an13.htm

Irish Gov%GDP[teina200] - General government deficit (-) and surplus (+); Percentage of GDPMillion EUR, % of GDPgeo\time1997199819992000200120022003200420052006200720082009Euro area (EA11-2000, EA12-2006, EA13-2007,EA15-2008, EA16)-2.7-2.2-1.30.1-1.8-2.5-3.1-2.9-2.5-1.3-0.6-2-6.3Euro area (16 countries)-2.7-2.3-1.40-1.9-2.6-3.1-2.9-2.5-1.3-0.6-2-6.3Euro area (15 countries)-2.7-2.3-1.40-1.8-2.5-3.1-2.9-2.5-1.3-0.6-2-6.3European Union (27 countries)-2.6-1.9-10.6-1.4-2.5-3.1-2.9-2.5-1.4-0.8-2.3-6.8European Union (25 countries)-2.6-1.9-10.6-1.4-2.5-3.1-2.9-2.5-1.4-0.8-2.3-6.8European Union (15 countries)-2.6-1.8-0.80.8-1.3-2.4-3-2.8-2.4-1.3-0.8::EU27 Rank (2009)Ireland1.12.42.74.80.9-0.30.41.41.63.00.1-7.3-14.31Greece:::-3.7-4.5-4.8-5.6-7.5-5.2-3.6-5.1-7.7-13.62United Kingdom-2.2-0.10.93.60.5-2.1-3.4-3.4-3.4-2.7-2.8-4.9-11.53Spain-3.4-3.2-1.4-1.0-0.6-0.5-0.2-0.31.02.01.9-4.1-11.24Portugal-3.5-3.4-2.8-2.9-4.3-2.8-2.9-3.4-6.1-3.9-2.6-2.8-9.45Latvia1.20.0-3.9-2.8-2.1-2.3-1.6-1.0-0.4-0.5-0.3-4.1-9.06Lithuania-11.9-3.1-2.8-3.2-3.6-1.9-1.3-1.5-0.5-0.4-1.0-3.3-8.97Romania-4.5-3.2-4.4-4.7-3.5-2.0-1.5-1.2-1.2-2.2-2.5-5.4-8.38France-3.3-2.6-1.8-1.5-1.5-3.1-4.1-3.6-2.9-2.3-2.7-3.3-7.59Poland-4.6-4.3-2.3-3.0-5.3-5.0-6.2-5.4-4.1-3.6-1.9-3.7-7.110Slovakia-6.3-5.3-7.4-12.3-6.5-8.2-2.8-2.4-2.8-3.5-1.9-2.3-6.811Cyprus-5.0-4.1-4.3-2.3-2.2-4.4-6.5-4.1-2.4-1.23.40.9-6.112Belgium-2.3-0.9-0.60.00.4-0.1-0.1-0.3-2.70.3-0.2-1.2-6.013Czech Republic-3.8-5.0-3.7-3.7-5.6-6.8-6.6-3.0-3.6-2.6-0.7-2.7-5.914Slovenia-2.4-2.4-3.0-3.7-4.0-2.5-2.7-2.2-1.4-1.30.0-1.7-5.515Italy-2.7-2.8-1.7-0.8-3.1-2.9-3.5-3.5-4.3-3.3-1.5-2.7-5.316Netherlands-1.2-0.90.42.0-0.2-2.1-3.1-1.7-0.30.50.20.7-5.317Hungary-5.9-7.8-5.4-3.0-4.0-8.9-7.2-6.4-7.9-9.3-5.0-3.8-4.018Bulgaria:1.30.2-0.30.6-0.8-0.31.61.93.00.11.8-3.919Malta-7.7-9.9-7.7-6.2-6.4-5.5-9.8-4.7-2.9-2.6-2.2-4.5-3.820Austria-1.8-2.4-2.3-1.70.0-0.7-1.4-4.4-1.7-1.5-0.4-0.4-3.421Germany-2.6-2.2-1.51.3-2.8-3.7-4.0-3.8-3.3-1.60.20.0-3.322Denmark-0.50.01.32.31.50.40.12.15.25.24.83.4-2.723Finland-1.31.51.66.85.04.02.42.32.74.05.24.2-2.224Estonia2.2-0.7-3.5-0.2-0.10.31.71.61.62.52.6-2.7-1.725Luxembourg3.73.43.46.06.12.10.5-1.10.01.43.62.9-0.726Sweden-1.51.11.33.71.6-1.2-0.90.82.32.53.82.5-0.527:=Not availableSource of Data::EurostatLast update:09.09.2010Date of extraction:14 Sep 2010 10:04:06 MESTHyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina200General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmShort Description:Public deficit/surplus is defined in the Maastricht Treaty as general government net borrowing/lending according to the European System of Accounts (ESA95). The general government sector comprises central government, state government, local government, anPublic deficit/surplus is defined in the Maastricht Treaty as general government net borrowing/lending according to the European System of Accounts (ESA95). The general government sector comprises central government, state government, local government, an

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Irish Gov TotalsTable 11 General Government Budgetary ProspectsStill to be done:(Stability Programme Update, December 2009, Department of Finance and SPU April 2011)http://www.budget.gov.ie/Budgets/2010/Documents/Final%20SPU.pdfupdate 2008 and 2009 items from authoritative sourcesDo not touch formula based cells - these are colour coded as yellowCURRENT BUDGETESA2007200820092010201120122013201420152016Net Lending by sub-sector1=2+4+5General GovernmentS.13-7.2-14.3-32.4-10.0-8.6-7.2-4.7-2.82Central GovernmentS.1311-6.9-12.6-31.9-9.9-8.5-7.1-4.5-2.64Local GovernmentS.1313-0.2-0.10.0-0.1-0.1-0.1-0.1-0.1Dept finance (April SPU)5Social Insurance FundS.1313-0.1-1.5-0.60.00.00.00.00.02010201120122013201420152016Real GNP growth (April 2011 SPU)-2.1%0.3%2.0%2.5%2.5%2.6%Gross National Product$163,413$154,673$132,233$128,207Real GDP-1.0%0.8%2.5%3.0%3.0%3.0%Gross Domestic Product$189,933$179,990$160,596$153,939$156,075$160,900$167,400$174,650$182,725Nominal GDP-3.6%1.4%3.1%4.0%4.3%4.6%ReceiptsNom GDP minus Real GDP-2.6%0.6%0.6%1.0%1.3%1.6%6=16Total RevenueTR35.234.834.635.535.235.235.435.1Real GNP-Real GDP+Nom GDP-4.7%0.9%2.6%3.5%3.8%4.2%7=24Total ExpenditureTE42.449.167.045.543.742.440.137.8IMF (Staff Paper Sept 2011)8=6-7=1Net lending/borrowingB.9-7.2-14.3-32.4-10.0-8.5-7.2-4.7-2.7Real GDP growth0.40.61.92.42.93.33.39=19Interest expenditureD.411.02.03.33.84.76.16.36.2GDP deflator (IMF Sept, p37)0.50.91.41.61.71.710=8+9Primary Balance-6.2-12.3-29.2-6.2-3.8-1.11.63.5Nominal GDP growth1.12.83.84.55.05.011One-off & temporary measures-0.80.0-20.00.00.00.00.00.0Nominal dataSelected components of revenueDOF April SPU figures$153,939$156,075$160,900$167,400$174,650$182,72512Total Taxes23.922.022.424.525.325.625.925.9IMF nominal GDP derived$155,992$155,632$160,445$167,014$174,933$183,383$191,861a. Taxes on production & importsD.212.311.211.611.811.411.110.910.6b. Current taxes on income & wealthD.511.410.610.712.513.714.314.815.1c Capital Acquisition TaxD.910.20.20.20.20.20.20.20.213Social ContributionsD.616.97.77.46.46.16.16.15.914Property Income1.31.61.81.51.11.00.90.915Other3.03.43.03.12.72.52.52.416=12 thru 15=6Total RevenueTR36.535.234.834.635.535.235.235.435.1(12+13)Tax Burden'31.130.029.431.131.631.932.332.1of which taxes to EU ?0.3Selected components of expenditureCompensation of Employees +17Intermediate ConsumptionD.1,P.217.218.117.416.815.614.613.412.518Total social payments14.017.718.117.216.315.314.313.2a. Social transfers in kindD.631.62.12.22.12.01.91.81.6b. Social transfers other than in kindD.6212.415.615.915.114.313.412.511.619=9Interest Expenditure (=9)D.411.02.03.33.84.76.16.36.220SubsidiesD.30.60.50.70.70.60.50.50.421Gross fixed capital formationD.515.54.73.82.92.62.32.01.822Other4.36.123.84.13.93.63.63.723=17 thru 22)=7Total Expenditure (=17 to 22)TE36.242.449.167.045.543.742.440.137.8Government Consumption17.919.119.218.717.716.415.214.7

including CGTInterest, dividends, rentTom Healy:CSO estimate per 8Oct111Tom Healy:true GDP figure is about 2bn higher per CSO dataTom Healy:true GDP figure is about 2bn higher per CSO dataTom Healy:Estimate net of temporary measures' is 46.4% (using DOF GDP figure for 2010) or 47.0% (using actual CSO data for 2010)Tom Healy:own estimate from CSO QNA Sep11 Table 1

Note Revised figures April2010Table 11 General Government Budgetary Prospects(Stability Programme Updates, December 2009, Department of Finance and Economic and Fiscal outlook Dec 2010 plus SPU April 2011 for 2010 data onward)Do not touch formula based cells - these are colour coded as yellowCURRENT BUDGETESA2007200820092010201120122013201420152016Net Lending by sub-sector1=2+4+5General GovernmentS.13(13,038)(22,932)(49,906)(15,608)(13,837)(12,053)(8,034)Still to be done:2Central GovernmentS.1311(12,451)(20,253)(49,043)(15,451)(13,677)(11,885)(7,859)update 2008 and 2009 items from authoritative sources4Local GovernmentS.1313(333)(235)52(156)(161)(167)(175)5Social Insurance FundS.1313(254)(2,444)(915)0000datadenotes absolute amounts derived by applying %GDP figures in Sheet Irish Gov%GDP to the projected (per IMF) GDP figuresGross Domestic Product$189,933$179,990$160,596$153,939$156,075$160,900$167,400$174,650$182,7250.0Receipts6=16Total RevenueTR$63,29455,89253,27855,40756,63758,92561,8267=24Total ExpenditureTE$76,33178,824103,18577,30578,84480,08581,9208=6-7=1Net lending/borrowingB.9$(13,037)(22,932)(49,907)(21,898)(22,207)(21,160)(20,094)9=19Interest expenditureD.41$1,8793,1975,0205,9317,56210,21111,00310=8+9Primary Balance$(11,158)(19,735)(44,887)(15,967)(14,645)(10,948)(9,091)11One-off & temporary measures$(1,409)0(30,862)0.00.00.00.0of which banking measure0(30,862)Selected components of revenue12Total Taxes$43,04035,34534,50938,23840,70842,85445,234a. Taxes on production & importsD.2$22,14918,01117,86318,41718,34318,58119,037b. Current taxes on income & wealthD.5$20,56017,07816,40919,50922,04323,93825,848c Capital Acquisition TaxD.91$33125623731232233534913Social ContributionsD.61$12,50112,43811,3859,9899,81510,21110,65414Property Income$2,4262,6392,7662,3411,7701,6741,57215Other$5,3275,4704,6184,8384,3444,1854,36616=12 thru 15=6Total RevenueTR$69,32663,29455,89253,27855,40756,63758,92561,826(12+13)Tax Burden'$56,02548,14246,29448,53950,84453,40156,412of which taxes to EU ?$484359400312322335524Selected components of expenditure17Compensation of Employees +Intermediate ConsumptionD.1,P.2$30,88429,09526,76226,22125,10024,44023,40318Total social payments$25,18128,36127,79026,84526,22725,61224,975a. Social transfers in kindD.63$2,8533,3733,3613,2783,2183,1813,144b. Social transfers other than in kindD.62$22,32824,98824,42923,56723,00922,43221,83119=9Interest Expenditure (=9)D.41$1,8793,1975,0205,9317,56210,21111,00320SubsidiesD.3$1,0838201,1431,09396583787321Gross fixed capital formationD.51$9,8147,5725,8944,5264,1833,8503,49322Other$7,7309,77936,5766,3996,2756,0266,28723=17 thru 22)=7Total Expenditure (=17 to 22)TE$68,756$76,33178,824103,18577,30578,84480,08581,920Government Consumption$32,18931,43929,55129,18628,47927,45426,547Notes:The expenditure figures in 2010 take account of the Promissory Notes issued to financial institutions of 31.375 billion, the effect of which is shown on lines 1, 2, 7 and 23.Interest Expenditure (9) reflects the accrued interest payable on Promissory notes issued to financial institutions and the fact that there is no interest payableon these Promissory Notes for the years 2011 and 2012 (note from some previous SPU)The Universal Social Charge introduced in 2011 means that certain receipts previously recorded as Social Contributions (13) will now be recorded asCurrent Taxes on Income and Wealth (12b).

item U in Sheet 'Projects'including CGTInterest, dividends, rentTotal Taxes plus Social Contributions plus taxes paid directly to EUCSO for years to 2009 (as of 5 Oct2011). All other GDP data taken from April SPU 2011same figure as in Eurostat online dataestimated back from GDP and % spend in EU Spend sheetTotal taxes plus social contributions plus taxes paid directly to the EUinc stamp dutyTom Healy:estimated by reference to 'tax burden' as shown on page 49 of April SPU 2011

Detail Irish GovInformation Note on Irelands Reported 2009 General Government Deficit.The underlying General Government deficit for Ireland for 2009 is 11.8% of GDP. However, for technical reclassification reasons associated with the banking sector, the headline deficit is 14.3% for 2009 as set out in the Information Note below. It is impoAlong with all other Member States, Irelands fiscal data is due to be published by Eurostat on 22 April. This will show a deficit of 14.3% of GDP for 2009.In early December 2009 in advance of the end year figures, we had submitted in our Stability Programme Update our estimate at that time for the 2009 General Government Balance of a deficit of 11.7% of GDP.The difference between the headline deficit published now and the SPU estimate is 2.6% of GDP. Of this difference, 4bn or 2.5% of GDP relates to a technical reclassification of the amount of money the Irish Government put into its nationalised bank, AnglThe 4bn was borrowed last year, taken account of in the domestic deficit and debt measures (Exchequer Borrowing Requirement (EBR) and National Debt and also, by extension, General Government Debt) but was treated as a financial transaction under ESA 95 rSince then, the Irish authorities have reviewed the matter in the context of later information that has become available and subsequent further decisions by the Government in respect of the banking sector and now consider that this 4bn injection should nIt is important to note that on foot of this reclassification, no additional borrowing has taken place and the underlying position of a deficit of 11.8% of GDP for 2009 is broadly similar to the Stability Programme (December Budget) Update.This is a technical reclassification and the March fiscal return was the earliest opportunity for the Irish authorities to signal this reclassification, taking account of the latest developments. In terms of the underlying position the 2009 General Govern

CSO NA T21Table 10: Projections for the Public Finances 2009 - 2014(2009 data from Stability Programme Update, December 2009, Department of Finance and 2010 data from Economic and Fiscal Outlook, Dec 2010, DOF, 2011 and later years from SPU, April 2011)Do not touch formula based cells - these are colour coded as yellowCURRENT BUDGET2009201020112012201320142015Expenditure$(1,910)$(1,500)$(1,385)0.0UPDATED 05 OCTOBER 2011 to row 33 onlyA$55,957$54,570$52,825$50,915$49,415$48,030$48,030Dat for 2010 and 2009 need to be updated against final published data elsewhereB$5,152$6,390$7,235$9,760$10,615$11,410$11,990Gross Current ExpenditureC=A+B$61,109$60,960$60,060$60,675$60,030$59,440$60,020less Expenditure Receipts and BalancesD$15,589$13,615$11,145$11,250$11,605$11,965$11,965Net Current ExpenditureE=C-D$45,520$47,345$48,915$49,425$48,425$47,475$48,055ReceiptsTax RevenueF$32,570$31,530$34,900$37,535$39,850$42,320$44,290Non-Tax RevenueG$834$2,695$1,980$1,105$870$885$770Net Current RevenueH=F+G$33,404$34,225$36,880$38,640$40,720$43,205$45,060CURRENT BUDGET BALANCEI=H-E(12,116)$(13,120)$(12,035)$(10,785)$(7,705)$(4,270)$(2,995)CAPITAL BUDGETExpenditureGross Voted CapitalL$7,216$6,185$4,675$4,300$3,900$3,500$3,500Non-Voted ExpenditureM$4,836$1,610$3,905$3,910$3,910$3,905$3,920Payment to the NPRFN$3,0000.00.0Sub-totalO=L+M+N$15,052$7,795$8,580$8,210$7,810$7,405$7,420less Capital ReceiptsP$443$370$335$320$320$320$320Net Capital ExpenditureQ=O-P$14,609$7,425$8,245$7,890$7,490$7,085$7,100Capital ResourcesR$1,464$1,790$2,115$1,635$1,790$1,860$1,760(total voted Current and Capital spending)$63,173$60,755$57,500$55,215$53,315$51,530$51,530CAPITAL BUDGET BALANCES=R-Q(13,145)$(5,635)$(6,130)$(6,255)$(5,700)$(5,225)$(5,340)EXCHEQUER BALANCET=S+H(25,261)$(18,755)$(18,165)$(17,040)$(13,405)$(9,495)$(8,335)GENERAL GOVERNMENT BALANCEU(6,000)(50,115)(15,665)(13,905)(12,130)(8,130)(5,035)GGB % of GDPV=U/GDP-32.6-10.0-8.6-7.2-4.7-2.8UNDERLYING GGBX$(18,175)IMPLICIT RECAPITALISATIONY(31,940)UNDERLYING GGB % of GDPZ=Y/GDP-20.7Memorandum (Table 2 of 2010 EFO and 1c of SPU Dec 2009)Exchequer BalanceAA(25,261)(18,755)(18,165)(17,040)(13,405)(9,495)(6,885)Interest adjustmentsi(636)(1,339)(1,205)(300)(2,120)(2,165)(1,950)Exclude equity and loan transactionsii105259(50)(20)(105)(190)(105)Net (Borrowing)/Surplus of noncommercial state sponsored bodiesiii20179(45)40(45)2080Adjustments for Transactionsiv359(669)(165)(25)(10)2070Impact of the NPRFv4,3841,958590290285290290Accrual Adjustmentsvi171164490265385505580Promissory Notes issued to financial institutionsvii4,000(30,850)3,0853,0853,0853,0853,085Net (borrowing/Surplus of Central GovernmentAB=AA+I thru vii(16,858)(49,053)(15,465)(13,705)(11,930)(7,930)(4,835)Net Surplus of the Social Insurance FundAC(2,204)(892)00000Net (Borrowing/Surplus of Local GovernmentAD(200)(200)(200)(200)(200)(200)(200)General Government BalanceAE=AB+AC+AD(19,262)(50,145)(15,665)(13,905)(12,130)(8,130)(5,035)UNDERLYING GGB18,175Net difference Exchequer Balance and GGBAF=AE-AA(31,390)2,5003,1351,2751,3651,850The Exchequer Balance is the traditional domestic budgetary aggregate which measures CentralGovernment's net surplus or borrowing position. It is the difference between total receipts into andtotal 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 (prior to 2005 - their replacement, the HSE,is part of the Exchequer), Vocational Education Committees and non-commercial State sponsoredbodies, as well as funds such as the Social Insurance Fund and the National Pensions Reserve Fundwhich are managed by government agents. It thus provides an accurate assessment of the fiscalperformance of a more complete "government" sector.The GGB does not reflect the position of commercial State sponsored bodies as these agencies areclassified as being outside the General Government Sector.The GGB is calculated in accordance with ESA95, a consistent standard developed by the EU tofacilitate budgetary comparisons between EU Member States in accordance with their obligationsunder the Maastricht Treaty.This reflects the amounts committed in Promissory Notes to certain financial institutions in 2010. These amounts will be paid in equal instalments of 10% of the capital amount. The full GGB effect of the Promissory Notes is shown in 2010, and as the Exche

A multi-annual capital investment programme of over 39 billion from 2010 to 2016 has been agreed by Government. For each year from 2011 a sum of 5.5 billion is provided.between the Exchequer and Government Departments/Offices and Extra-Budgetary Funds. Transfers beteween units within the General Govt sector do not affect the GGBThe 2010 payment to was frontloaded into 2009. Payments in subsequent years are offset by thetransfer in 2009 and 2010 to the NPRF of the assets of the pension funds of third level universities and certain noncommercialsemi-state bodies. A partial payment will be made in 2012 and from 2013 onwards a payment of 1%of GNP per annum has been provided.ESA95 public accounts classification - a consistent standard developed by the EU to facilitate budgetary comparisons in accord with their Eurozone obligationsincludes transfer of some 2bn from health levy Department receipt to USCThis 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, as is an adjustment for FISIM. Accrued interest payable on the Promissory Notes issued to financial institutions is also included.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 National Pensions Reserve Fund (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 income earned by the funds. These figures include the pre-funding in 2009 of the 2010 contribution, the payment into the NPRF in 2009 and 2010 of the pension funds of third level universities and semi-state bodies, and also income earned on the investments made by the NPRF. There is no provision for a payment from the Exchequer into the NPRF for the years 2012 to 2014.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 the accrual forward to 2005 of the full projected cost of the repayment of certain nursing home charges, Value Added Tax receipts, Income Tax receipts, Departmental Balances, EU Transfers, and the impact of the capital envelopes facility, which allows a carryover of up to 10% of Departmental capital spending into the following year in accordance with Section 91 of the Finance Act 2004.This reflects the amounts committed in Promissory Notes to certain financial institutions in 2010. These amounts will be paid in equal instalments of 10% of the capital amount. The full GGB effect of the Promissory Notes is shown in 2010, and as the Exchequer pays this money to the financial institutions, the effect of this is removed from the GGB in subsequent years.Tom Healy:is this wrong?Rory O'Farrell:Slightly different figure given in April 2011 SPU, but I didn't want to change this as it is calculated.Rory O'Farrell:This matches with I41, but not I33Rory O'Farrell:This should equal I33, but does not. It is taken from Table 5c of the April 2011 SPU.

HealthTable 21 Receipts and Expenditure of Central and Local Government * million millionDescriptionESA Code199519961997199819992000200120022003200420052006200720082009Current receipts223. Taxes on income and wealthD51rec (excl CGT)7,1038,0549,24010,43411,90513,17013,89214,38115,01716,82117,75119,94520,90419,23116,534224. Social Insurance contributionsD611rec (Pt)2,4872,5442,7603,0763,6944,4275,0715,5175,9426,6047,3228,1599,0539,2878,914225. Taxes on expenditure (including rates)D2rec7,1027,9439,04710,16111,74513,70313,98515,82817,24519,36021,81224,66625,21822,30118,013226. Gross trading incomeD4rec (Pt)-941-6-14-6-20-00-7-0-0-0-0227. Gross rental incomeD4rec (Pt)279300332348375273322397455480495536568676487228. Investment incomeD4rec (Pt)4615024945175417561,0359507727699291,2321,6072,2742,146229. Transfers from the rest of the world(not elsewhere included)D7rec (Pt)3464394715324233602092092342692502105589106230. Miscellaneous receiptsP1318759179591,0731,2381,3401,4131,7031,9862,2472,6032,9352,9992,9663,486231. Total receipts - current18,64520,70523,30326,13429,90734,02135,92538,98641,65146,55051,15557,68360,40556,82549,687Capital receipts232. Taxes on capitalD91rec+D51rec (CGT)1322102813876449971,0437701,6491,7182,2313,4423,4881,767801233. Loan repayments and equity sales4732441483044,7751,8809661,197901523323771861844780234. Transfers from the rest of the world(D92rec+D99rec) (Pt)6465136236016076236656004094782301931671181235. Other receipts(D92rec+D99rec) (Pt)2393554724726716955858881,2161,1761,5081,9302,3731,7491,769236. Borrowing5,4788,4678,1514,87112,006-2,7011,35712,0982,1061,255263-3,9677,24114,41028,988237. Total receipts - capital6,9699,7899,6746,63618,7041,4934,61615,5536,2815,1504,5562,37014,12918,78032,418238. Total receipts - current and capital25,61430,49432,97732,77048,61135,51440,54154,53947,93251,70055,71160,05374,53475,60582,105Current expenditure239. SubsidiesD3pay5145816776517397601,039788818768881775870939851240. National debt interest (includingland bond interest)D41pay2,8112,6412,5652,6812,1822,0891,7351,7581,7391,6851,7661,7871,9852,4823,191241. Transfer paymentsD62pay (Pt)+D63pay+D7pay7,0447,7728,3389,0149,40210,02412,01214,10215,43917,13319,08221,25124,08227,13229,347242. Expenditure on goods and services:8,3238,7469,67610,64011,90213,69015,96618,32619,86221,55123,44325,90428,54430,21529,065242(a) Wages,salaries and pensionsD1pay-P125,3635,6476,1796,6367,3528,3619,81911,27312,56013,67515,75417,31518,95020,24819,753242(b) OtherP22,9603,0993,4974,0044,5505,3296,1477,0537,3027,8767,6898,5899,5949,9679,312243. Total expenditure - current18,69219,74121,25622,98624,22526,56330,75234,97437,85941,13845,17149,71655,48160,76862,454Capital expenditure244. Grants to enterprisesD9pay (Pt)+K23244614543303655405686176956117765938232,0414,823245. Other transfer paymentsD9pay (Pt)5132202824042,0935247114535977877568631,1861,101364246. Redemption of securities andloan repayments4,6038,2988,7216,69318,6663,8102,90812,1862,7963,2742,1107066,8507115,474247. Loans and share capital2593505594872823895327217955901,1311,3181,3381,4251,516249. Gross physical capital formationP51,2151,4131,6962,0862,7793,6785,0605,5775,1765,2785,7426,7528,8209,5277,456250. Payments to the rest of the worldD9pay (Pt)910977111111142224105353118251. Total expenditure - capital6,92210,75111,72110,00724,1928,9519,78919,56510,07310,56210,53910,33719,05314,83719,652252. Total expenditure - current and capital25,61430,49232,97732,99348,41835,51440,54154,53947,93251,70055,71060,05374,53475,60582,105253. Net lending / net borrowingB9-1,090-629821,7822,3605,0201,116-3885842,0862,6545,22087-13,118-22,778(231+232+234+235) -(243+244+245+249+250)254. Adjustment for interest swaps00-21783100-37-68-66-35-29-13-194-4-4255. General Government Balance (GGB)EDP B9-1,090-627651,8652,4604,9831,048-4545492,0572,6415,20191-13,122-22,782256. Net expenditure by central & local govt on currentgoods & services excl. depreciation (242 - 230)7,4477,8298,7179,56710,66412,35014,55316,62217,87619,30420,84022,96925,54527,24925,579257. DepreciationK14184615075466357568751,0061,1071,2711,4061,5851,7791,9472,139258. Net expenditure by central & local govtP3 (Pt)on current goods & services7,8668,2919,22410,11311,29913,10615,42817,62818,98320,57522,24624,55427,32429,19627,718 PreliminaryNOTESitems 246 and 247 are not included in Govt Finance Statistics (EU)

EDUCPUBLIC SPENDING HEALTHGEO/TIME19951996199719981999200020012002200320042005200620072008European Union (27 countries):::::::6.46.56.66.76.86.76.9Austria7.77.78.28.38.48.26.97.07.47.37.37.57.67.7Belgium6.16.56.16.26.36.36.56.57.07.17.16.97.07.4Bulgaria:::::3.32.54.55.16.66.74.23.14.7Cyprus2.42.62.82.72.82.62.83.13.43.13.03.12.93.0Czech Republic5.96.35.85.85.95.76.06.26.47.37.27.27.17.2Denmark6.56.46.36.46.86.66.87.07.17.17.27.37.57.8Estonia4.84.94.34.44.84.34.14.24.14.04.14.24.45.2Finland6.26.46.25.85.85.75.96.26.56.66.96.96.67.1France7.37.47.37.27.27.17.27.57.87.87.97.87.87.8Germany6.36.46.26.16.26.66.86.97.06.76.76.76.66.6Greece3.83.93.83.94.03.94.64.54.74.64.95.15.15.1Hungary5.85.25.15.25.04.94.85.45.75.55.65.64.94.9Ireland5.65.55.55.25.35.25.86.16.46.66.76.76.97.8Italy5.35.55.55.65.76.06.36.36.36.76.97.06.87.1Latvia:2.12.32.22.73.83.23.73.43.54.34.94.54.9Lithuania:::::4.14.74.34.34.24.94.64.65.0Luxembourg4.95.25.04.84.44.14.84.74.85.15.24.64.44.5Malta3.94.34.64.64.64.95.15.76.06.16.56.45.85.6Netherlands3.73.43.83.83.73.73.94.24.44.44.45.86.06.0Poland:::::::4.44.34.24.44.64.55.1Portugal5.65.85.96.26.26.46.66.76.97.17.37.16.86.4Romania2.52.42.02.84.14.44.34.53.53.53.63.53.74.2Slovakia5.15.45.65.45.45.24.95.06.54.74.85.96.46.7Slovenia::::6.56.46.66.56.56.46.36.35.96.1Spain5.35.45.25.25.25.25.15.25.25.55.75.75.76.1Sweden6.26.56.36.26.36.26.66.97.16.86.86.86.87.0United Kingdom5.55.75.45.45.65.75.96.26.36.76.97.17.27.4Last update09-09-2010Extracted on17-09-2010 10:31:36Source of dataEurostatCOFOG99TotalSECTORGeneral governmentINDIC_NATotal general government expenditureINDICATORSOBS_FLAGUNITPercentage of GDPGovernment expenditure by COFOG function and type notified by national authorities in Table 11 of the ESA 95 transmission programme.Data are presented in millions of Euro, millions of national currency units and percentages of GDP.Geographic coverage: EU and euro area, Norway and Iceland.Main sources of data: National authorities.3.2 Classification systemMethodological framework is the European system of accounts, 1995 edition (ESA 95), and the 'Classification of the functions of government' (COFOG), United Nations, 1999.3.3 Sector coverageGeneral government sector defined in ESA95 (paragraph 2.68) as including "all institutional units which are other non-market producers whose output is intended for individual and collective consumption, and mainly financed by compulsory payments made by u3.4 Statistical concepts and definitionsThe table provides a breakdown of expenditure of general government by economic function and by type of transaction.Total general government expenditure is classified by functions (COFOG divisions and groups (first and second level categories)) and broken down by types of expenditure on the basis of ESA 95 transactions. The indicators are as reported under Table 11 'ExThe institutional units included to general government sector (S.13) according to ESA95 (paragraph 2.69) are the following:a) general government entities (excluding public producers organized as public corporations or, by virtue of special legislation, recognized as independent legal entities, or quasi-corporations, when any of these are classified in the non-financial and fib) non-profit institutions recognized as independent legal entities which are other non-market producers and which are controlled and mainly financed by general government;c) autonomous pension funds which fulfill each of the following criteria:- by law or by regulation certain groups of the population are obliged to participate in scheme or to pay contributions,- general government is responsible for the management of the institution in respect of the settlement or approval of the contributions and benefits independently from its role as supervisory body or employer.

Total general government expenditure is classified by functions (COFOG divisions and groups (first and second level categories)) and broken down by types of expenditure on the basis of ESA 95 transactions. The indicators are as reported under Table 11 'Ex

Soc ProGEO/TIME19951996199719981999200020012002200320042005200620072008EU27:::::::5.35.35.25.35.25.15.2Austria6.26.16.26.16.15.95.95.96.05.85.85.35.25.3Belgium5.96.05.95.95.95.65.85.96.05.85.95.85.85.9Bulgaria:::::4.43.83.94.44.24.13.93.94.2Cyprus5.76.06.06.06.06.06.16.57.67.17.27.27.37.8Czech Republic4.34.14.34.04.04.14.45.25.24.84.84.94.74.7Denmark7.07.06.97.27.47.47.47.77.77.67.37.06.77.0Estonia8.07.37.07.27.56.76.66.86.56.36.06.16.06.7Finland7.06.96.56.26.05.96.06.16.46.36.26.05.85.9France6.66.56.56.46.66.36.36.46.36.26.16.05.95.8Germany4.44.44.44.34.34.04.24.24.14.14.14.03.83.9Greece2.72.52.82.82.82.92.72.93.23.13.03.03.03.1Hungary5.34.95.05.15.15.25.25.66.25.85.95.75.35.2Ireland5.35.24.94.64.44.34.54.54.64.64.64.74.95.3Italy4.74.94.84.84.74.64.74.74.94.64.74.64.64.6Latvia:5.25.45.75.75.55.45.75.56.15.66.05.86.5Lithuania:::::6.06.06.15.75.85.55.45.25.8Luxembourg4.44.54.74.94.64.34.64.84.94.94.74.34.24.4Malta5.15.55.95.45.55.25.86.06.25.85.75.65.45.5Netherlands5.35.14.94.84.84.74.85.05.25.25.15.15.25.2Poland:::::::6.16.15.76.16.05.75.8Portugal6.16.46.36.37.26.76.97.37.47.47.67.15.86.0Romania3.63.83.24.03.13.23.84.23.63.73.64.14.14.8Slovakia3.73.83.83.63.33.63.23.64.33.94.03.94.03.3Slovenia::::6.36.26.66.56.56.56.66.45.96.2Spain4.64.64.54.44.44.44.34.44.44.44.34.34.44.6Sweden7.07.07.17.47.56.87.27.37.37.17.17.06.86.9United Kingdom4.64.74.64.54.75.05.35.65.85.96.26.16.16.3Last update09-09-2010Extracted on17-09-2010 10:31:36Source of dataEurostatCOFOG99EducationSECTORGeneral governmentINDIC_NATotal general government expenditureINDICATORSOBS_FLAGUNITPercentage of GDP

Anglo-Irish PNGEO/TIME199519961997199819992000200120022003200420052006200720082009EU27:::::::18.418.718.618.518.217.818.2:Austria21.921.821.421.221.421.121.021.221.421.020.720.320.020.0:Belgium18.418.518.317.917.517.017.317.718.018.017.917.517.217.8:Bulgaria:::::15.013.314.413.511.311.112.213.111.5:Cyprus7.07.37.77.77.87.97.98.79.510.010.710.49.89.9:Czech Republic11.912.312.812.613.013.413.314.614.413.012.812.712.912.9:Denmark25.625.524.524.223.222.522.923.224.124.023.222.522.022.425.3Estonia11.911.610.810.811.910.710.29.99.910.29.89.59.611.7:Finland25.825.724.122.422.020.319.920.621.221.121.120.519.920.4:France21.521.521.621.221.120.620.621.021.421.721.821.821.621.8:Germany20.822.021.921.721.621.421.421.922.321.921.821.020.019.7:Greece15.315.615.816.016.317.017.117.417.717.317.918.118.620.2:Hungary17.915.715.114.915.114.614.415.416.015.917.017.617.317.8:Ireland13.812.611.510.611.59.09.510.110.010.410.710.811.513.7:Italy18.317.618.017.717.917.517.417.718.018.018.118.118.218.8:Latvia:13.313.214.215.513.111.911.410.810.49.89.58.49.5:Lithuania:::::12.611.710.810.310.29.99.910.912.4:Luxembourg16.616.817.216.916.215.716.517.217.717.717.416.315.315.718.1Malta12.213.313.413.413.512.713.713.914.214.214.113.914.114.4:Netherlands20.419.818.417.817.316.616.717.117.417.216.516.216.016.1:Poland:::::::18.318.817.617.016.915.615.6:Portugal12.112.212.012.112.012.512.913.514.615.115.715.917.517.5:Romania11.210.811.211.912.010.811.110.110.010.310.410.411.411.9:Slovakia13.115.014.814.515.014.514.614.912.812.113.212.410.69.8:Slovenia::::17.117.317.217.117.116.916.816.415.515.9:Spain14.714.514.113.613.313.012.813.012.913.012.912.913.013.9:Sweden26.625.624.423.123.523.223.323.424.323.923.422.721.621.5:United Kingdom17.216.416.015.414.914.815.215.315.515.615.815.415.415.9:Last update09-09-2010Extracted on17-09-2010 10:31:36Source of dataEurostatCOFOG99Social protectionSECTORGeneral governmentINDIC_NATotal general government expenditureINDICATORSOBS_FLAGUNITPercentage of GDP

Chart Spend RevenbnTotal InterestRepaymentsTotal Capital ReductionInterest RateIncremental Annual Debt interest cost on Payments (Cash borrowing)Cumulative Debt interest cost on Payments (Cash borrowing)Cumulative Interest Paid on money borrowed for paymentsInterest on Interest3/31/110.63.12.53.7%0.1150.1153/31/1203.13.13.7%0.1150.2290.1150.0043/31/130.53.12.63.7%0.1150.3440.3440.0133/31/141.83.11.24.7%0.1460.4900.6890.0323/31/151.73.11.34.7%0.1460.6361.1780.0553/31/161.73.11.44.7%0.1460.7811.8140.0853/31/171.53.11.54.7%0.1460.9272.5950.1223/31/181.43.11.64.7%0.1461.0733.5220.1663/31/191.33.11.74.7%0.1461.2184.5950.2163/31/201.23.11.94.7%0.1461.3645.8130.2733/31/211.13.124.7%0.1461.5107.1770.3373/31/220.93.12.24.7%0.1461.6558.6870.4083/31/230.73.12.34.7%0.1461.80110.3420.4863/31/240.62.11.54.7%0.0991.90012.1430.5713/31/250.40.90.54.7%0.0421.94214.0430.6603/31/260.40.90.54.7%0.0421.98415.9850.7513/31/270.30.90.64.7%0.0422.02717.9690.8453/31/280.30.90.64.7%0.0422.06919.9960.9403/31/290.20.90.74.7%0.0422.11122.0651.0373/31/300.10.90.84.7%0.0422.15424.1761.1363/31/3100.104.7%0.0052.15826.3301.23816.847.930.628.4889.376Total Cost76.38885.764Cost of Borrowing assuming a 4.7% rate from 2014 onwards (post EU IMF Programme)4.7% was the average cost of funds raised by the NTMA in the bond market in 2009 and 2010.

Chart Edu'98'99'00'01'02'03'04'05'06'07'08'09'10111213141516EU27 Exp47.346.844.746.146.647.246.846.846.345.647.151.050.6IE Exp34.433.931.233.033.433.133.533.834.336.642.848.946.844.943.142.239.837.5EU27 Rev45.345.845.344.644.044.043.944.344.844.744.744.144.1IE Rev36.836.335.833.832.933.434.735.437.236.835.533.934.634.934.534.734.834.612.912.913.513.113.214.113.313.012.09.04.32.13.8

Chart Edu00000000000000000000000000000000000000000000000000000000000000

EU27 ExpIE ExpEU27 RevIE Rev% GDP

Chart Alloc0000000000000000000000000000000

EU27 ExpIE Exp% GDP

Sheet100000000000000000000000000

EU27 ExpEU27 Rev% GDP

0000000000000000000000000000000

EU27 RevIE Rev% GDP

'98'99'00'01'02'03'04'05'06'07'08'09'10Tot EU27 Exp47.346.845.246.246.747.346.946.946.445.846.950.7Tot IE Exp34.534.131.333.233.533.233.533.934.436.642.0EDU EU275.35.35.25.35.25.15.2EDU IE4.64.44.34.54.54.64.64.64.74.95.3

00000000000000000000000000000000000000000000

Tot EU27 ExpTot IE ExpEDU EU27EDU IE% GDP

EUROPEAN UNION 27DIFFERENCES EU27 > IRL'02'03'04'05'06'07'08'02'03'04'05'06'07'08EDUC5.35.35.25.35.25.15.2EDUC0.80.70.60.70.50.2-0.1HEALTH6.46.56.66.76.86.76.9HEALTH0.30.10.00.00.1-0.2-0.9SOC PROT18.418.718.618.518.217.818.2SOC PROT8.38.78.27.87.46.34.5OTHER16.616.816.516.416.216.216.6OTHER3.84.64.64.54.02.91.4TOTAL46.747.346.946.946.445.846.9TOTAL13.214.113.413.012.09.24.9European Union 27IRELAND'02'03'04'05'06'07'08EDUC4.54.64.64.64.74.95.30.4HEALTH6.16.46.66.76.76.97.80.9SOC PROT10.110.010.410.710.811.513.72.2OTHER12.812.211.911.912.213.315.21.9TOTAL33.533.233.533.934.436.642.05.4IRELAND

0000000000000000000000000000

EDUCHEALTHSOC PROTOTHER% GDP

0000000000000000000000000000

EDUCHEALTHSOC PROTOTHER% GDP

52,82550,91549,41548,03048,03060,06060,67560,03059,44060,02048,91549,42548,42547,47548,05534,90037,53539,85042,32044,29036,88038,64040,72043,20545,060-12,035-10,785-7,705-4,270-2,9954,6754,3003,9003,5003,5008,5808,2107,8107,4057,4208,2457,8907,4907,0857,1002,1151,6351,7901,8601,760-6,130-6,255-5,700-5,225-5,340-18,165-17,040-13,405-9,495-6,885-15,665-13,905-12,130-8,130-5,035

Chart247.334.445.336.846.833.945.836.344.731.245.335.846.13344.633.846.633.44432.947.233.14433.446.833.543.934.746.833.844.335.446.334.344.837.245.636.644.736.847.142.844.735.55148.944.133.950.646.844.134.61144.91134.91243.11234.51342.21334.71439.81434.81537.51534.6

EU27 ExpIE ExpEU27 RevIE Rev% GDP

ReadmeNotes about Eurostat DataGovernment finance statistics (GFS) present the economic activities of government in a harmonized and comparable way, with an emphasis on the economic substance over the legal form of the event. GFS hence noticeably differ from the budget presentations orThe GFS presentation shows in an integrated manner: government revenue, government expenditure, government deficit, transactions in assets, transactions in liabilities, other economic flows, and balance sheets. This presentation is similar to that of busiGo to http://epp.eurostat.ec.europa.eu/portal/page/portal/government_finance_statistics/data/databaseand click on Government StatisticsNote that payments under bank recapitalisation are treated as capital transfers and not capital transactions. This accounts for 4bn in 2009 and is includedin Eurostat data for 2009. However, 2010 data presented in Dec09 SPU data exclude transfers in 2010. Latter may come to over 20bn.EU27 Rank (2009)123456789101112131415161718192021222324252627

Go to http://epp.eurostat.ec.europa.eu/portal/page/portal/government_finance_statistics/data/database

SummaryGovernment Revenue and Expenditure as % GDP EU15 countries (average) and Irelandfor various yearsSpendRevenueEU27EU15Ireland %GDPIreland %GNPEU27EU15Ireland %GDPIreland %GNP199748.436.741.945.938.143.5199847.347.534.539.545.445.736.842.1199946.846.934.140.145.846.136.743.2200045.245.331.336.745.445.736.142.4200146.246.333.239.644.845.134.240.8200246.746.833.540.944.244.433.240.6200347.347.433.239.344.144.433.639.8200446.947.133.539.644.044.234.941.2200546.947.133.940.144.444.735.642.1200646.446.634.439.644.945.337.443.0200745.846.036.642.644.945.336.742.7200846.947.342.048.944.645.134.740.4200950.751.248.458.943.944.434.141.5201046.858.735.244.1201145.535.5201243.536.4201341.536.7201440.037.2GNPGDP199759,44067,93414.3199868,59078,53514.5199976,82890,37817.6200089,342104,83017.3200197,955116,93119.42002106,562130,25822.22003118,039139,76318.42004126,219149,09818.12005137,188162,09118.22006154,078177,34315.12007162,853189,37416.32008154,672179,98916.42009131,241159,64621.62010125,500157,30025.377.063363892683.06314488792011127,900161,20026.02012132,500168,10026.92013137,600175,40027.52014143,400183,50028.0

CSO Quarterly release Sep 2010CSO Quarterly Sep2010DOF Economic and Fiscal Outlook Dec2010; page D9DOF Economic and Fiscal Outlook Dec2010; page D9

GDP GNI2009 dataGNIGDPRatioEuro area$8,899,260$8,959,4490.7Euro area (16 countries)$8,899,260$8,959,4490.7Euro area (15 countries)$8,836,685$8,896,1170.7EU (27 countries)$11,748,223$11,787,2790.3EU (25 countries)$11,601,371$11,637,5330.3EU (15 countries)$10,905,803$10,917,3160.1Austria$269,706$273,2341.3Belgium$341,734$338,960-0.8Bulgaria$33,859Cyprus$16,947Czech Republic$137,403Denmark$229,162$223,249-2.6Estonia$13,538$13,8612.4Finland$171,700$171,442-0.2France$1,922,934$1,907,225-0.8Germany$2,430,950$2,395,000-1.5Greece$230,938$237,4942.8Hungary$93,431Ireland$132,581$159,66720.4Italy$1,494,053$1,520,3471.8Latvia$20,036$18,584-7.2Lithuania$26,709$26,650-0.2Luxembourg$37,64532.4Malta$5,748Netherlands$557,115$571,9792.7Poland$310,379Portugal$161,937$167,6523.5Romania$115,627Slovakia$62,576$63,3321.2Slovenia$34,502$35,1962.0Spain$1,053,914United Kingdom$1,597,447$1,563,412-2.1Source of Data::EurostatLast update:15.09.2010Date of extraction:17 Sep 2010 10:10:03 MESTHyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina010General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmShort Description:Gross domestic product (GDP) at market prices is the final result of the production activity of resident producer units (ESA 1995, 8.89). It is defined as the value of all goods and services produced less the value of any goods or services used in their cEurostat15.09.201017 Sep 2010 09:52:18 MESThttp://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina080http://europa.eu/geninfo/legal_notices_en.htmGross national income (at market prices) (ESA 1995, 8.94) represents total primary income receivable by resident institutional units: compensation of employees, taxes on production and imports less subsidies, property income (receivable less payable), gro

estimated from 2008 datahttp://europa.eu/geninfo/legal_notices_en.htmhttp://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina080http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina010http://europa.eu/geninfo/legal_notices_en.htm

EU Spendgov_a_main-Government revenue, expenditure and main aggregatesUPDATED 08 December 2011GEO/TIME1995199619971998199920002001200220032004200520062007200820092010European Union (27 countries)52.249.848.247.346.844.746.146.647.246.846.846.345.647.151.050.6Euro area (17 countries)53.150.549.348.548.246.247.347.648.147.547.446.746.147.151.150.9EU27 Rank (2010)Denmark59.358.956.756.355.553.754.254.655.154.652.851.650.851.958.458.21France54.454.554.252.852.651.751.752.953.453.353.653.052.653.356.756.62Finland61.560.256.653.051.848.448.049.050.350.250.449.247.449.355.955.33Belgium52.152.451.250.450.149.149.149.851.049.352.148.648.349.953.852.94Sweden64.962.960.758.858.155.154.555.655.754.253.952.751.051.755.052.75Austria56.355.953.553.753.451.951.350.751.353.850.049.148.649.352.952.56Portugal41.542.141.140.841.041.142.542.343.844.745.844.544.444.849.951.37Netherlands56.449.447.546.746.044.245.446.247.146.144.845.545.346.251.551.28United Kingdom43.942.340.539.538.936.840.241.142.143.044.144.243.947.951.450.49Italy52.552.550.249.248.145.947.747.148.147.547.948.547.648.651.650.310Greece45.744.144.944.344.446.745.345.144.745.544.645.247.650.653.850.211Slovenia52.344.244.545.446.246.547.346.246.245.745.344.642.544.249.350.112Hungary55.851.449.951.249.247.847.851.549.749.150.152.150.649.251.449.513Germany54.949.148.248.048.245.147.647.948.547.146.945.343.544.048.147.914Ireland40.938.936.534.433.931.233.033.433.133.533.834.336.642.848.946.815Cyprus33.435.436.536.736.737.138.040.044.642.443.142.641.342.146.246.416Spain44.443.241.641.139.939.238.738.938.438.938.438.439.241.546.345.617Poland47.751.046.444.342.741.143.844.344.742.643.443.942.243.244.545.418Latvia38.636.936.340.241.937.635.036.034.935.935.838.335.939.144.244.419Czech Republic53.041.742.643.042.241.643.945.650.043.343.042.041.041.144.944.120Malta39.742.642.943.043.140.342.442.646.745.244.644.342.744.043.342.921Luxembourg39.741.140.741.139.237.638.141.541.842.641.538.636.337.143.042.522Lithuania34.436.449.640.139.938.936.634.633.033.233.233.534.637.243.840.923Romania34.133.234.635.839.238.636.235.033.533.633.635.538.239.341.140.924Estonia41.339.537.439.240.136.134.835.834.834.033.633.634.039.545.240.625Slovakia48.653.748.945.848.152.144.545.140.137.738.036.534.234.941.540.026Bulgaria45.444.032.939.440.041.340.639.639.138.637.334.439.838.340.738.127Last update02.12.11Extracted on08.12.11Source of DataEurostatShort DescriptionShort Description is not availableUNITPercentage of GDPSECTORGeneral governmentINDIC_NATotal general government expenditureBulgaria38.1Slovakia40.0Estonia40.6Lithuania40.9Romania40.9Luxembourg42.5Malta42.9Czech Republic44.1Latvia44.4Poland45.4Spain45.6Cyprus46.4Ireland46.8Germany47.9Hungary49.5Slovenia50.1Greece50.2Italy50.3United Kingdom50.4Netherlands51.2Portugal51.3Austria52.5Sweden52.7Belgium52.9Finland55.3France56.6Denmark58.2Ireland37.5Bulgaria38.1Slovakia40.0Estonia40.6Lithuania40.9Romania40.9Luxemb42.5Malta42.9Czech Rep44.1Latvia44.4Poland45.4Spain45.6Cyprus46.4Germany47.9Hungary49.5Slovenia50.1Greece50.2Italy50.3UK50.4Netherl51.2Portugal51.3Austria52.5Sweden52.7Belgium52.9Finland55.3France56.6Denmark58.2

EU Spend

EU Revenue

EU Gov Debt[tec00021] - Total general government revenue; General government(% of GDP)UPDATED 08 DECEMBER 2011geo\time1995199619971998199920002001200220032004200520062007200820092010EU (27 countries)45.045.645.545.345.845.344.644.044.043.944.344.844.744.744.144.1Euro area (17 countries)45.646.246.446.146.646.145.344.944.944.644.945.445.445.044.744.6EU27 Rank (2010)Denmark56.456.956.156.256.855.855.454.855.056.457.856.655.655.255.655.51Sweden57.659.659.059.758.958.756.154.154.454.655.854.954.553.954.152.72Finland55.456.755.354.653.455.453.153.152.852.553.053.352.753.653.252.53France48.950.550.950.150.850.250.049.649.349.650.650.649.949.949.249.54Belgium47.648.448.949.449.549.049.549.650.948.949.348.748.048.648.048.85Austria50.451.751.551.251.050.151.149.849.749.248.247.547.648.348.748.16Netherlands47.247.546.345.846.446.145.144.143.944.344.546.145.446.746.046.27Italy45.045.447.546.246.145.044.544.044.444.043.445.046.045.946.345.88Hungary47.146.944.343.644.044.743.742.542.442.642.242.745.645.546.945.29Slovenia44.043.042.243.043.142.843.443.843.643.543.843.242.442.443.244.310Germany45.445.745.545.746.646.244.544.144.343.343.643.743.744.044.943.611Portugal36.537.537.837.338.338.238.239.440.741.339.940.541.141.139.741.612Luxembourg42.142.344.344.442.643.644.243.642.241.541.539.939.940.142.141.413Cyprus32.532.231.432.532.334.735.735.638.038.340.741.444.843.140.141.014Estonia42.439.139.638.536.735.934.736.036.535.635.236.136.436.543.240.915United Kingdom38.038.038.339.439.840.440.739.038.739.540.741.541.142.940.140.316Greece36.737.439.040.541.343.040.940.339.038.139.039.240.840.738.039.517Czech Republic40.238.539.038.138.638.038.339.143.340.439.839.640.338.939.139.318Malta35.534.635.333.135.334.536.036.737.540.541.741.540.339.439.639.319Poland43.346.141.840.140.438.138.539.338.537.239.440.240.339.537.237.520Spain37.237.737.638.038.738.238.138.738.038.839.740.741.137.035.136.321Latvia37.036.537.840.238.034.833.033.733.334.935.437.835.634.934.636.122Ireland38.938.837.936.636.535.934.033.133.634.935.437.236.735.434.735.523Bulgaria37.533.933.740.740.140.741.738.438.740.438.336.240.940.036.334.924Romania32.129.630.232.534.833.932.733.032.032.332.433.335.333.632.134.025Lithuania32.933.137.937.137.135.733.132.731.831.732.733.033.633.934.333.826Slovakia45.243.842.640.540.739.938.036.837.435.335.233.332.432.833.532.327Source of Data::EurostatSource of Data::EurostatLast update:30.09.2011Date of extraction:08.12.11Hyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tec00021General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmCode:tec00021Short Description:Total general government revenue is defined in ESA-95 8.99 by reference to a list of categories: market output, output for own final use, payments for the other non-market output, taxes on production and imports, other subsidies on production, receivableTotal general government revenue is defined in ESA-95 8.99 by reference to a list of categories: market output, output for own final use, payments for the other non-market output, taxes on production and imports, other subsidies on production, receivableSlovakia32.3Lithuania33.8Romania34.0Bulgaria34.9Ireland35.5Latvia36.1Spain36.3Poland37.5Czech Rep39.3Malta39.3Greece39.5UK40.3Estonia40.9Cyprus41.0Luxe41.4Portugal41.6Germany43.6Slovenia44.3Hungary45.2Italy45.8Netherl46.2Austria48.1Belgium48.8France49.5Finland52.5Sweden52.7Denmark55.5GDP per capita in Purchasing Power StandardsPPS (EU-27 = 100)geo\time2010EU (27 countries)100S80/S20Liechtenstein:Montenegro:Luxembourg2744.1Norway1793.4Netherlands1333.7Ireland1274.2Austria1263.7Denmark1254.7Sweden1233.5Belgium1193.9Germany1174.5Finland1163.6United Kingdom1145.2Iceland1103.6France1074.5Spain1006.9Italy1005.2Greece885.6Slovenia863.4Malta834.3Czech Republic823.5Portugal815.6Slovakia743.8Estonia645Hungary633.4Poland625Lithuania587.3Latvia526.9Romania456Bulgaria445.9

EU Gov Debt

EU Deficits[tsieb090] - General government debtGeneral government consolidated gross debt as a percentage of GDP199519961997199819992000200120022003200420052006200720082009EU (27 countries)::68.366.465.861.96160.461.962.262.861.458.861.673.6EU (25 countries)68.770.368.566.76662.161.260.662.162.563.261.959.462.374.3EU (15 countries)69.771.669.86867.163.262.361.663.163.464.362.860.4::Euro area (16 countries)72.273.873.372.971.769.268.26869.169.570.168.36669.478.7Euro area (15 countries)72.37473.473.171.869.368.368.169.269.670.368.566.269.779EU27 Rank (2009)Italy121.5120.9118.1114.9113.7109.2108.8105.7104.4103.8105.8106.5103.5106.1115.81Greece97.099.496.694.594.0103.4103.7101.797.498.6100.097.895.799.2115.12Belgium130.4127.3122.7117.4113.7107.9106.6103.598.594.292.188.184.289.896.73Hungary85.271.462.059.959.855.052.055.658.459.161.865.665.972.978.34France55.558.059.259.458.957.356.958.862.964.966.463.763.867.577.65Portugal61.059.956.152.151.450.552.955.656.958.363.664.763.666.376.86Germany55.658.459.760.360.959.758.860.463.965.868.067.665.066.073.27Malta35.340.148.453.457.155.962.160.169.372.370.163.761.963.769.18United Kingdom51.251.349.846.743.741.037.737.539.040.942.543.544.752.068.19Austria68.368.364.464.867.266.567.166.565.564.863.962.259.562.666.510Ireland82.173.564.353.648.537.835.632.231.029.727.424.925.043.964.011Netherlands76.174.168.265.761.153.850.750.552.052.451.847.445.558.260.912Cyprus40.642.846.751.251.848.752.164.668.970.269.164.658.348.456.213Spain63.367.466.164.162.359.355.552.548.746.243.039.636.239.753.214Poland49.043.442.938.939.636.837.642.247.145.747.147.745.047.251.015Finland56.657.053.948.445.743.842.541.544.544.441.739.735.234.244.016Sweden72.273.071.069.164.853.654.452.652.351.150.845.740.838.342.317Denmark72.669.465.461.458.152.449.649.547.245.137.832.127.434.241.618Latvia15.113.911.19.612.512.314.013.514.614.912.410.79.019.536.119Slovenia::::::26.828.027.527.227.026.723.422.635.920Slovakia22.131.133.834.547.950.348.943.442.441.534.230.529.327.735.721Czech Republic14.612.513.115.016.418.524.928.229.830.129.729.429.030.035.422Lithuania11.914.315.616.622.823.723.122.321.119.418.418.016.915.629.323Romania7.011.115.216.621.722.525.724.921.518.715.812.412.613.323.724Bulgaria::105.179.679.374.367.353.645.937.929.222.718.214.114.825Luxembourg7.47.47.47.16.46.26.36.36.16.36.16.56.713.714.526Estonia9.07.46.25.56.05.14.85.75.65.04.64.53.84.67.227Footnotes...:http://epp.eurostat.ec.europa.eu/cache/ITY_SDDS/Annexes/gov_dd_esms_an13.htmSource of Data::EurostatLast update:09.09.2010Date of extraction:14 Sep 2010 10:23:25 MESTHyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tsieb090General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmShort Description:EU definition: the general government sector comprises the subsectors of central government, state government, local government and social security funds. GDP used as a denominator is the gross domestic product at current market prices. Debt is valued atEU definition: the general government sector comprises the subsectors of central government, state government, local government and social security funds. GDP used as a denominator is the gross domestic product at current market prices. Debt is valued at

http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=tsieb090http://epp.eurostat.ec.europa.eu/cache/ITY_SDDS/Annexes/gov_dd_esms_an13.htm

Irish Gov%GDP[teina200] - General government deficit (-) and surplus (+); Percentage of GDPMillion EUR, % of GDPgeo\time1997199819992000200120022003200420052006200720082009Euro area (EA11-2000, EA12-2006, EA13-2007,EA15-2008, EA16)-2.7-2.2-1.30.1-1.8-2.5-3.1-2.9-2.5-1.3-0.6-2-6.3Euro area (16 countries)-2.7-2.3-1.40-1.9-2.6-3.1-2.9-2.5-1.3-0.6-2-6.3Euro area (15 countries)-2.7-2.3-1.40-1.8-2.5-3.1-2.9-2.5-1.3-0.6-2-6.3European Union (27 countries)-2.6-1.9-10.6-1.4-2.5-3.1-2.9-2.5-1.4-0.8-2.3-6.8European Union (25 countries)-2.6-1.9-10.6-1.4-2.5-3.1-2.9-2.5-1.4-0.8-2.3-6.8European Union (15 countries)-2.6-1.8-0.80.8-1.3-2.4-3-2.8-2.4-1.3-0.8::EU27 Rank (2009)Ireland1.12.42.74.80.9-0.30.41.41.63.00.1-7.3-14.31Greece:::-3.7-4.5-4.8-5.6-7.5-5.2-3.6-5.1-7.7-13.62United Kingdom-2.2-0.10.93.60.5-2.1-3.4-3.4-3.4-2.7-2.8-4.9-11.53Spain-3.4-3.2-1.4-1.0-0.6-0.5-0.2-0.31.02.01.9-4.1-11.24Portugal-3.5-3.4-2.8-2.9-4.3-2.8-2.9-3.4-6.1-3.9-2.6-2.8-9.45Latvia1.20.0-3.9-2.8-2.1-2.3-1.6-1.0-0.4-0.5-0.3-4.1-9.06Lithuania-11.9-3.1-2.8-3.2-3.6-1.9-1.3-1.5-0.5-0.4-1.0-3.3-8.97Romania-4.5-3.2-4.4-4.7-3.5-2.0-1.5-1.2-1.2-2.2-2.5-5.4-8.38France-3.3-2.6-1.8-1.5-1.5-3.1-4.1-3.6-2.9-2.3-2.7-3.3-7.59Poland-4.6-4.3-2.3-3.0-5.3-5.0-6.2-5.4-4.1-3.6-1.9-3.7-7.110Slovakia-6.3-5.3-7.4-12.3-6.5-8.2-2.8-2.4-2.8-3.5-1.9-2.3-6.811Cyprus-5.0-4.1-4.3-2.3-2.2-4.4-6.5-4.1-2.4-1.23.40.9-6.112Belgium-2.3-0.9-0.60.00.4-0.1-0.1-0.3-2.70.3-0.2-1.2-6.013Czech Republic-3.8-5.0-3.7-3.7-5.6-6.8-6.6-3.0-3.6-2.6-0.7-2.7-5.914Slovenia-2.4-2.4-3.0-3.7-4.0-2.5-2.7-2.2-1.4-1.30.0-1.7-5.515Italy-2.7-2.8-1.7-0.8-3.1-2.9-3.5-3.5-4.3-3.3-1.5-2.7-5.316Netherlands-1.2-0.90.42.0-0.2-2.1-3.1-1.7-0.30.50.20.7-5.317Hungary-5.9-7.8-5.4-3.0-4.0-8.9-7.2-6.4-7.9-9.3-5.0-3.8-4.018Bulgaria:1.30.2-0.30.6-0.8-0.31.61.93.00.11.8-3.919Malta-7.7-9.9-7.7-6.2-6.4-5.5-9.8-4.7-2.9-2.6-2.2-4.5-3.820Austria-1.8-2.4-2.3-1.70.0-0.7-1.4-4.4-1.7-1.5-0.4-0.4-3.421Germany-2.6-2.2-1.51.3-2.8-3.7-4.0-3.8-3.3-1.60.20.0-3.322Denmark-0.50.01.32.31.50.40.12.15.25.24.83.4-2.723Finland-1.31.51.66.85.04.02.42.32.74.05.24.2-2.224Estonia2.2-0.7-3.5-0.2-0.10.31.71.61.62.52.6-2.7-1.725Luxembourg3.73.43.46.06.12.10.5-1.10.01.43.62.9-0.726Sweden-1.51.11.33.71.6-1.2-0.90.82.32.53.82.5-0.527:=Not availableSource of Data::EurostatLast update:09.09.2010Date of extraction:14 Sep 2010 10:04:06 MESTHyperlink to the table:http://epp.eurostat.ec.europa.eu/tgm/table.do?tab=table&init=1&plugin=1&language=en&pcode=teina200General Disclaimer of the EC:http://europa.eu/geninfo/legal_notices_en.htmShort Description:Public deficit/surplus is defined in the Maastricht Treaty as general government net borrowing/lending according to the European System of Accounts (ESA95). The general government sector comprises central government, state government, local government, anPublic deficit/surplus is defined in the Maastricht Treaty as general government net borrowing/lending according to the European System of Accounts (ESA95). The general government sector comprises central government, state government, local government, an

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Irish Gov TotalsTable 11 General Government Budgetary ProspectsStill to be done:(Stability Programme Update, December 2009, Department of Finance and SPU April 2011)http://www.budget.gov.ie/Budgets/2010/Documents/Final%20SPU.pdfupdate 2008 and 2009 items from authoritative sourcesDo not touch formula based cells - these are colour coded as yellowCURRENT BUDGETESA2007200820092010201120122013201420152016Net Lending by sub-sector1=2+4+5General GovernmentS.13-7.2-14.3-32.4-10.0-8.6-7.2-4.7-2.82Central GovernmentS.1311-6.9-12.6-31.9-9.9-8.5-7.1-4.5-2.64Local GovernmentS.1313-0.2-0.10.0-0.1-0.1-0.1-0.1-0.1Dept finance (April SPU)5Social Insurance FundS.1313-0.1-1.5-0.60.00.00.00.00.02010201120122013201420152016Real GNP growth (April 2011 SPU)-2.1%0.3%2.0%2.5%2.5%2.6%Gross National Product$163,413$154,673$132,233$128,207Real GDP-1.0%0.8%2.5%3.0%3.0%3.0%Gross Domestic Product$189,933$179,990$160,596$153,939$156,075$160,900$167,400$174,650$182,725Nominal GDP-3.6%1.4%3.1%4.0%4.3%4.6%ReceiptsNom GDP minus Real GDP-2.6%0.6%0.6%1.0%1.3%1.6%6=16Total RevenueTR35.234.834.635.535.235.235.435.1Real GNP-Real GDP+Nom GDP-4.7%0.9%2.6%3.5%3.8%4.2%7=24Total ExpenditureTE42.449.167.045.543.742.440.137.8IMF (Staff Paper Sept 2011)8=6-7=1Net lending/borrowingB.9-7.2-14.3-32.4-10.0-8.5-7.2-4.7-2.7Real GDP growth0.40.61.92.42.93.33.39=19Interest expenditureD.411.02.03.33.84.76.16.36.2GDP deflator (IMF Sept, p37)0.50.91.41.61.71.710=8+9Primary Balance-6.2-12.3-29.2-6.2-3.8-1.11.63.5Nominal GDP growth1.12.83.84.55.05.011One-off & temporary measures-0.80.0-20.00.00.00.00.00.0Nominal dataSelected components of revenueDOF April SPU figures$153,939$156,075$160,900$167,400$174,650$182,72512Total Taxes23.922.022.424.525.325.625.925.9IMF nominal GDP derived$155,992$155,632$160,445$167,014$174,933$183,383$191,861a. Taxes on production & importsD.212.311.211.611.811.411.110.910.6b. Current taxes on income & wealthD.511.410.610.712.513.714.314.815.1c Capital Acquisition TaxD.910.20.20.20.20.20.20.20.213Social ContributionsD.616.97.77.46.46.16.16.15.914Property Income1.31.61.81.51.11.00.90.915Other3.03.43.03.12.72.52.52.416=12 thru 15=6Total RevenueTR36.535.234.834.635.535.235.235.435.1(12+13)Tax Burden'31.130.029.431.131.631.932.332.1of which taxes to EU ?0.3Selected components of expenditureCompensation of Employees +17Intermediate ConsumptionD.1,P.217.218.117.416.815.614.613.412.518Total social payments14.017.718.117.216.315.314.313.2a. Social transfers in kindD.631.62.12.22.12.01.91.81.6b. Social transfers other than in kindD.6212.415.615.915.114.313.412.511.619=9Interest Expenditure (=9)D.411.02.03.33.84.76.16.36.220SubsidiesD.30.60.50.70.70.60.50.50.421Gross fixed capital formationD.515.54.73.82.92.62.32.01.822Other4.36.123.84.13.93.63.63.723=17 thru 22)=7Total Expenditure (=17 to 22)TE36.242.449.167.045.543.742.440.137.8Government Consumption17.919.119.218.717.716.415.214.7

including CGTInterest, dividends, rentTom Healy:CSO estimate per 8Oct111Tom Healy:true GDP figure is about 2bn higher per CSO dataTom Healy:true GDP figure is about 2bn higher per CSO dataTom Healy:Estimate net of temporary measures' is 46.4% (using DOF GDP figure for 2010) or 47.0% (using actual CSO data for 2010)Tom Healy:own estimate from CSO QNA Sep11 Table 1

Note Revised figures April2010Table 11 General Government Budgetary Prospects(Stability Programme Updates, December 2009, Department of Finance and Economic and Fiscal outlook Dec 2010 plus SPU April 2011 for 2010 data onward)Do not touch formula based cells - these are colour coded as yellowCURRENT BUDGETESA2007200820092010201120122013201420152016Net Lending by sub-sector1=2+4+5General GovernmentS.13(13,038)(22,932)(49,906)(15,608)(13,837)(12,053)(8,034)Still to be done:2Central GovernmentS.1311(12,451)(20,253)(49,043)(15,451)(13,677)(11,885)(7,859)update 2008 and 2009 items from authoritative sources4Local GovernmentS.1313(333)(235)52(156)(161)(167)(175)5Social Insurance FundS.1313(254)(2,444)(915)0000datadenotes absolute amounts derived by applying %GDP figures in Sheet Irish Gov%GDP to the projected (per IMF) GDP figuresGross Domestic Product$189,933$179,990$160,596$153,939$156,075$160,900$167,400$174,650$182,7250.0Receipts6=16Total RevenueTR$63,29455,89253,27855,40756,63758,92561,8267=24Total ExpenditureTE$76,33178,824103,18577,30578,84480,08581,9208=6-7=1Net lending/borrowingB.9$(13,037)(22,932)(49,907)(21,898)(22,207)(21,160)(20,094)9=19Interest expenditureD.41$1,8793,1975,0205,9317,56210,21111,00310=8+9Primary Balance$(11,158)(19,735)(44,887)(15,967)(14,645)(10,948)(9,091)11One-off & temporary measures$(1,409)0(30,862)0.00.00.00.0of which banking measure0(30,862)Selected components of revenue12Total Taxes$43,04035,34534,50938,23840,70842,85445,234a. Taxes on production & importsD.2$22,14918,01117,86318,41718,34318,58119,037b. Current taxes on income & wealthD.5$20,56017,07816,40919,50922,04323,93825,848c Capital Acquisition TaxD.91$33125623731232233534913Social ContributionsD.61$12,50112,43811,3859,9899,81510,21110,65414Property Income$2,4262,6392,7662,3411,7701,6741,57215Other$5,3275,4704,6184,8384,3444,1854,36616=12 thru 15=6Total RevenueTR$69,32663,29455,89253,27855,40756,63758,92561,826(12+13)Tax Burden'$56,02548,14246,29448,53950,84453,40156,412of which taxes to EU ?$484359400312322335524Selected components of expenditure17Compensation of Employees +Intermediate ConsumptionD.1,P.2$30,88429,09526,76226,22125,10024,44023,40318Total social payments$25,18128,36127,79026,84526,22725,61224,975a. Social transfers in kindD.63$2,8533,3733,3613,2783,2183,1813,144b. Social transfers other than in kindD.62$22,32824,98824,42923,56723,00922,43221,83119=9Interest Expenditure (=9)D.41$1,8793,1975,0205,9317,56210,21111,00320SubsidiesD.3$1,0838201,1431,09396583787321Gross fixed capital formationD.51$9,8147,5725,8944,5264,1833,8503,49322Other$7,7309,77936,5766,3996,2756,0266,28723=17 thru 22)=7Total Expenditure (=17 to 22)TE$68,756$76,33178,824103,18577,30578,84480,08581,920Government Consumption$32,18931,43929,55129,18628,47927,45426,547Notes:The expenditure figures in 2010 take account of the Promissory Notes issued to financial institutions of 31.375 billion, the effect of which is shown on lines 1, 2, 7 and 23.Interest Expenditure (9) reflects the accrued interest payable on Promissory notes issued to financial institutions and the fact that there is no interest payableon these Promissory Notes for the years 2011 and 2012 (note from some previous SPU)The Universal Social Charge introduced in 2011 means that certain receipts previously recorded as Social Contributions (13) will now be recorded asCurrent Taxes on Income and Wealth (12b).

item U in Sheet 'Projects'including CGTInterest, dividends, rentTotal Taxes plus Social Contributions plus taxes paid directly to EUCSO for years to 2009 (as of 5 Oct2011). All other GDP data taken from April SPU 2011same figure as in Eurostat online dataestimated back from GDP and % spend in EU Spend sheetTotal taxes plus social contributions plus taxes paid directly to the EUinc stamp dutyTom Healy:estimated by reference to 'tax burden' as shown on page 49 of April SPU 2011

Detail Irish GovInformation Note on Irelands Reported 2009 General Government Deficit.The underlying General Government deficit for Ireland for 2009 is 11.8% of GDP. However, for technical reclassification reasons associated with the banking sector, the headline deficit is 14.3% for 2009 as set out in the Information Note below. It is impoAlong with all other Member States, Irelands fiscal data is due to be published by Eurostat on 22 April. This will show a deficit of 14.3% of GDP for 2009.In early December 2009 in advance of the end year figures, we had submitted in our Stability Programme Update our estimate at that time for the 2009 General Government Balance of a deficit of 11.7% of GDP.The difference between the headline deficit published now and the SPU estimate is 2.6% of GDP. Of this difference, 4bn or 2.5% of GDP relates to a technical reclassification of the amount of money the Irish Government put into its nationalised bank, AnglThe 4bn was borrowed last year, taken account of in the domestic deficit and debt measures (Exchequer Borrowing Requirement (EBR) and National Debt and also, by extension, General Government Debt) but was treated as a financial transaction under ESA 95 rSince then, the Irish authorities have reviewed the matter in the context of later information that has become available and subsequent further decisions by the Government in respect of the banking sector and now consider that this 4bn injection should nIt is important to note that on foot of this reclassification, no additional borrowing has taken place and the underlying position of a deficit of 11.8% of GDP for 2009 is broadly similar to the Stability Programme (December Budget) Update.This is a technical reclassification and the March fiscal return was the earliest opportunity for the Irish authorities to signal this reclassification, taking account of the latest developments. In terms of the underlying position the 2009 General Govern

CSO NA T21Table 10: Projections for the Public Finances 2009 - 2014(2009 data from Stability Programme Update, December 2009, Department of Finance and 2010 data from Economic and Fiscal Outlook, Dec 2010, DOF, 2011 and later years from SPU, April 2011)Do not touch formula based cells - these are colour coded as yellowCURRENT BUDGET2009201020112012201320142015Expenditure$(1,910)$(1,500)$(1,385)0.0UPDATED 05 OCTOBER 2011 to row 33 onlyA$55,957$54,570$52,825$50,915$49,415$48,030$48,030Dat for 2010 and 2009 need to be updated against final published data elsewhereB$5,152$6,390$7,235$9,760$10,615$11,410$11,990Gross Current ExpenditureC=A+B$61,109$60,960$60,060$60,675$60,030$59,440$60,020less Expenditure Receipts and BalancesD$15,589$13,615$11,145$11,250$11,605$11,965$11,965Net Current ExpenditureE=C-D$45,520$47,345$48,915$49,425$48,425$47,475$48,055ReceiptsTax RevenueF$32,570$31,530$34,900$37,535$39,850$42,320$44,290Non-Tax RevenueG$834$2,695$1,980$1,105$870$885$770Net Current RevenueH=F+G$33,404$34,225$36,880$38,640$40,720$43,205$45,060CURRENT BUDGET BALANCEI=H-E(12,116)$(13,120)$(12,035)$(10,785)$(7,705)$(4,270)$(2,995)CAPITAL BUDGETExpenditureGross Voted CapitalL$7,216$6,185$4,675$4,300$3,900$3,500$3,500Non-Voted ExpenditureM$4,836$1,610$3,905$3,910$3,910$3,905$3,920Payment to the NPRFN$3,0000.00.0Sub-totalO=L+M+N$15,052$7,795$8,580$8,210$7,810$7,405$7,420less Capital ReceiptsP$443$370$335$320$320$320$320Net Capital ExpenditureQ=O-P$14,609$7,425$8,245$7,890$7,490$7,085$7,100Capital ResourcesR$1,464$1,790$2,115$1,635$1,790$1,860$1,760(total voted Current and Capital spending)$63,173$60,755$57,500$55,215$53,315$51,530$51,530CAPITAL BUDGET BALANCES=R-Q(13,145)$(5,635)$(6,130)$(6,255)$(5,700)$(5,225)$(5,340)EXCHEQUER BALANCET=S+H(25,261)$(18,755)$(18,165)$(17,040)$(13,405)$(9,495)$(8,335)GENERAL GOVERNMENT BALANCEU(6,000)(50,115)(15,665)(13,905)(12,130)(8,130)(5,035)GGB % of GDPV=U/GDP-32.6-10.0-8.6-7.2-4.7-2.8UNDERLYING GGBX$(18,175)IMPLICIT RECAPITALISATIONY(31,940)UNDERLYING GGB % of GDPZ=Y/GDP-20.7Memorandum (Table 2 of 2010 EFO and 1c of SPU Dec 2009)Exchequer BalanceAA(25,261)(18,755)(18,165)(17,040)(13,405)(9,495)(6,885)Interest adjustmentsi(636)(1,339)(1,205)(300)(2,120)(2,165)(1,950)Exclude equity and loan transactionsii105259(50)(20)(105)(190)(105)Net (Borrowing)/Surplus of noncommercial state sponsored bodiesiii20179(45)40(45)2080Adjustments for Transactionsiv359(669)(165)(25)(10)2070Impact of the NPRFv4,3841,958590290285290290Accrual Adjustmentsvi171164490265385505580Promissory Notes issued to financial institutionsvii4,000(30,850)3,0853,0853,0853,0853,085Net (borrowing/Surplus of Central GovernmentAB=AA+I thru vii(16,858)(49,053)(15,465)(13,705)(11,930)(7,930)(4,835)Net Surplus of the Social Insurance FundAC(2,204)(892)00000Net (Borrowing/Surplus of Local GovernmentAD(200)(200)(200)(200)(200)(200)(200)General Government BalanceAE=AB+AC+AD(19,262)(50,145)(15,665)(13,905)(12,130)(8,130)(5,035)UNDERLYING GGB18,175Net difference Exchequer Balance and GGBAF=AE-AA(31,390)2,5003,1351,2751,3651,850The Exchequer Balance is the traditional domestic budgetary aggregate which measures CentralGovernment's net surplus or borrowing position. It is the difference between total receipts into andtotal 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 (prior to 2005 - their replacement, the HSE,is part of the Exchequer), Vocational Education Committees and non-commercial State sponsoredbodies, as well as funds such as the Social Insurance Fund and the National Pensions Reserve Fundwhich are managed by government agents. It thus provides an accurate assessment of the fiscalperformance of a more complete "government" sector.The GGB does not reflect the position of commercial State sponsored bodies as these agencies areclassified as being outside the General Government Sector.The GGB is calculated in accordance with ESA95, a consistent standard developed by the EU tofacilitate budgetary comparisons between EU Member States in accordance with their obligationsunder the Maastricht Treaty.This reflects the amounts committed in Promissory Notes to certain financial institutions in 2010. These amounts will be paid in equal instalments of 10% of the capital amount. The full GGB effect of the Promissory Notes is shown in 2010, and as the Exche

A multi-annual capital investment programme of over 39 billion from 2010 to 2016 has been agreed by Government. For each year from 2011 a sum of 5.5 billion is provided.between the Exchequer and Government Departments/Offices and Extra-Budgetary Funds. Transfers beteween units within the General Govt sector do not affect the GGBThe 2010 payment to was frontloaded into 2009. Payments in subsequent years are offset by thetransfer in 2009 and 2010 to the NPRF of the assets of the pension funds of third level universities and certain noncommercialsemi-state bodies. A partial payment will be made in 2012 and from 2013 onwards a payment of 1%of GNP per annum has been provided.ESA95 public accounts classification - a consistent standard developed by the EU to facilitate budgetary comparisons in accord with their Eurozone obligationsincludes transfer of some 2bn from health levy Department receipt to USCThis 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, as is an adjustment for FISIM. Accrued interest payable on the Promissory Notes issued to financial institutions is also included.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 National Pensions Reserve Fund (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 income earned by the funds. These figures include the pre-funding in 2009 of the 2010 contribution, the payment into the NPRF in 2009 and 2010 of the pension funds of third level universities and semi-state bodies, and also income earned on the investments made by the NPRF. There is no provision for a payment from the Exchequer into the NPRF for the years 2012 to 2014.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 the accrual forward to 2005 of the full projected cost of the repayment of certain nursing home charges, Value Added Tax receipts, Income Tax receipts, Departmental Balances, EU Transfers, and the impact of the capital envelopes facility, which allows a carryover of up to 10% of Departmental capital spending into the following year in accordance with Section 91 of the Finance Act 2004.This reflects the amounts committed in Promissory Notes to certain financial institutions in 2010. These amounts will be paid in equal instalments of 10% of the capital amount. The full GGB effect of the Promissory Notes is shown in 2010, and as the Exchequer pays this money to the financial institutions, the effect of this is removed from the GGB in subsequent years.Tom Healy:is this wrong?Rory O'Farrell:Slightly different figure given in April 2011 SPU, but I didn't want to change this as it is calculated.Rory O'Farrell:This matches with I41, but not I33Rory O'Farrell:This should equal I33, but does not. It is taken from Table 5c of the April 2011 SPU.

HealthTable 21 Receipts and Expenditure of Central and Local Government * million millionDescriptionESA Code199519961997199819992000200120022003200420052006200720082009Current receipts223. Taxes on income and wealthD51rec (excl CGT)7,1038,0549,24010,43411,90513,17013,89214,38115,01716,82117,75119,94520,90419,23116,534224. Social Insurance contributionsD611rec (Pt)2,4872,5442,7603,0763,6944,4275,0715,5175,9426,6047,3228,1599,0539,2878,914225. Taxes on expenditure (including rates)D2rec7,1027,9439,04710,16111,74513,70313,98515,82817,24519,36021,81224,66625,21822,30118,013226. Gross trading incomeD4rec (Pt)-941-6-14-6-20-00-7-0-0-0-0227. Gross rental incomeD4rec (Pt)279300332348375273322397455480495536568676487228. Investment incomeD4rec (Pt)4615024945175417561,0359507727699291,2321,6072,2742,146229. Transfers from the rest of the world(not elsewhere included)D7rec (Pt)3464394715324233602092092342692502105589106230. Miscellaneous receiptsP1318759179591,0731,2381,3401,4131,7031,9862,2472,6032,9352,9992,9663,486231. Total receipts - current18,64520,70523,30326,13429,90734,02135,92538,98641,65146,55051,15557,68360,40556,82549,687Capital receipts232. Taxes on capitalD91rec+D51rec (CGT)1322102813876449971,0437701,6491,7182,2313,4423,4881,767801233. Loan repayments and equity sales4732441483044,7751,8809661,197901523323771861844780234. Transfers from the rest of the world(D92rec+D99rec) (Pt)646513623601607623665600409478230