"Total government revenue was €34.8bn in those three months, up €1.3bn. Total government expenditure was up €2.2bn in the same period, to €32.8bn. The higher spending included increased public sector pay, social benefits, investment, but also a so-called capital transfer that moved €600m into long-term investment, and which does not represent actual spending. Even allowing for that, however, the increase in spending was around €300m more than the rise in income, mostly made up of higher rates of tax and PRSI collected."
"The new CSO numbers, the first since Budget 2026, show the government's surplus has fallen to €2bn in the second quarter of the year, from €2.9bn in the three months prior to that. On the revenue side, the main driver of higher income to the State was taxes, which saw an increase of €1.1bn compared with the same time last year. Other drivers included increased social contributions of €400m, tax in all but name."
Total government revenue was €34.8bn in the three months, up €1.3bn, while expenditure rose €2.2bn to €32.8bn. Spending increases included higher public sector pay, social benefits, investment, and a €600m capital transfer into long-term investment that does not represent actual spending. Excluding the transfer, spending still rose about €300m more than income. The government's surplus fell to €2bn in the second quarter from €2.9bn previously. Tax receipts increased €1.1bn and social contributions rose €400m. Wages, goods and services, and social benefits each increased by €400m, with capital investment up €200m. Gross debt fell to €207.2bn and the debt-to-GDP ratio stood at 33.3%. The Fiscal Advisory Council warned that spending has run ahead of Budget 2025 allowances and the State is on course to increase spending by about €8.5bn this year due to unbudgeted departmental overruns.
Read at Irish Independent
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