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End-March 2010 Exchequer Returns

End-March 2010 Exchequer Returns. Friday 2 nd April 2010. Exchequer Balance. Tax Revenue. Tax revenue = €7¼ billion 15% down year-on-year €266 million or 3½% below profile Annual target €31 billion or 6% down y-on-y. Main Tax Heads End-March 2010.

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End-March 2010 Exchequer Returns

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  1. End-March 2010Exchequer Returns Friday 2nd April 2010

  2. Exchequer Balance

  3. Tax Revenue • Tax revenue = €7¼ billion • 15% down year-on-year • €266 million or 3½% below profile • Annual target €31 billion or 6% down y-on-y

  4. Main Tax Heads End-March 2010 Small discrepancies arise due to rounding of constituent items

  5. Voted Expenditure End-March 2010 Small discrepancies arise due to rounding of constituent items

  6. Expenditure – Key Points • Significant year-on-year reductions largely reflect expenditure policy changes implemented over the last year • Overall expenditure is 2.1% below profile. This is mainly due to timing issues across a number of departments • Capital spending below profile but is expected to catch up later on • The anticipated end-year position remains in line with 2010 REV allocations

  7. Summary • Tax revenue is 15% down y-on-y - substantial decline anticipated in first half of 2010 • Expenditure is €225 million less than planned – timing issues • At end-March the overall Exchequer position is broadly in line with expectations - targets remain valid

  8. End-March 2010Exchequer Returns Friday 2nd April 2010

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