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Government Finance Statistics Quarter 4 2023

Non-Financial Accounts

Online ISSN: 2009-6178

CSO statistical publication, 22 April 2024, 11am

Revenue

Total government revenue this quarter was €2.3 billion higher than Q4 2022. The main component of the change was taxes which were up by €1.4 billion. Investment income and social contributions also saw increases of €0.5 billion and €0.3 billion.

	Indirect taxes	Direct taxes	Capital taxes	Social contributions	Investment income	Sales of goods and services	Current transfers	Capital transfers
Q1 2021	7.1	7	0.1	3.9	0	0.9	0.2	0.1
Q2 2021	6.1	11.9	0.1	4.2	0.3	1	0.2	0.1
Q3 2021	8.6	9.2	0.1	4.3	0.1	1.1	0.4	0.3
Q4 2021	7.7	17.7	0.4	4.9	0.1	1.1	0.2	0.2
Q1 2022	8.5	9.6	0.1	4.8	0	1.1	0.2	0.1
Q2 2022	6.4	14.5	0.1	4.9	0.2	1.1	0.3	0.2
Q3 2022	9.4	12.6	0.1	5	0.3	1.1	0.3	0.2
Q4 2022	7.4	20	0.4	5.5	0.2	1.2	0.3	0.2
Q1 2023	8.9	11.6	0.1	5.3	0.3	1.1	0.3	0.2
Q2 2023	6.8	15.5	0.1	5.3	0.4	1.1	0.3	0.2
Q3 2023	9.5	11.9	0.1	5.2	0.5	1.1	0.3	0.2
Q4 2023	7.9	20.9	0.4	5.8	0.8	1.2	0.3	0.2

Table 2.1 General Government; detailed classification of revenue and output

Table 2.1 General Government: detailed classification of revenue and output
																	€million
Description					ESA2010 code	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4
Total Revenue					TR	19,374	23,789	24,023	32,163	24,341	27,652	28,843	35,124	27,769	29,732	28,828	37,386
	Taxes and social contributions					18,079	22,195	22,150	30,606	22,888	25,902	27,007	33,180	25,915	27,633	26,626	34,889
		Taxes			D2 + D5 + D91	14,180	17,987	17,815	25,733	18,121	20,987	22,031	27,702	20,575	22,353	21,433	29,138
			Indirect taxes (taxes on production and imports)		D2	7,115	6,051	8,556	7,728	8,484	6,421	9,374	7,335	8,890	6,758	9,481	7,868
				Taxes on products	D21	6,210	5,236	7,748	6,660	7,595	5,378	8,490	6,319	7,804	5,602	8,594	6,949
				of which Value-Added Tax	D211	4,355	2,895	5,563	3,829	5,601	3,183	6,381	4,086	5,930	3,446	6,571	4,285
				Other taxes on production	D29	905	815	808	1,068	889	1,043	884	1,016	1,086	1,156	887	919
			Direct taxes		D5	7,004	11,869	9,159	17,653	9,574	14,497	12,568	19,974	11,627	15,535	11,844	20,862
				Taxes on income, profits and capital gains	D51	6,740	11,633	8,923	17,441	9,318	14,264	12,335	19,765	11,365	15,299	11,616	20,657
				Other current direct taxes	D59	263	235	235	212	256	233	234	208	263	236	228	205
			Capital taxes		D91	61	68	100	352	63	69	89	393	57	60	109	408
		Social contributions			D61	3,900	4,208	4,334	4,873	4,767	4,914	4,975	5,478	5,340	5,280	5,192	5,751
			Actual social contributions		D611 + D613	2,942	3,288	3,428	3,959	3,729	3,892	3,950	4,511	4,332	4,289	4,175	4,733
				PRSI receipts	D611 + D613(pt)	2,572	2,886	3,020	3,559	3,316	3,473	3,538	4,021	3,868	3,812	3,706	4,248
				Government employees' pension contributions	D613(pt)	370	402	408	400	413	419	413	489	465	477	469	485
			Employers' imputed social contributions		D612	957	920	906	914	1,039	1,023	1,025	967	1,008	991	1,017	1,018
	Sales of goods and services				P1O	926	954	1,063	1,115	1,053	1,117	1,105	1,208	1,123	1,138	1,123	1,207
		Sales of market establishments (= market output)			P11	0	0	0	0	0	0	0	0	0	0	0	0
		Imputed sales related to production of own-use capital assets (= output for own final use)			P12	6	6	6	6	6	6	6	6	6	6	6	6
		Incidental sales and fees of non-market establishments			P131	920	949	1,057	1,109	1,047	1,112	1,100	1,202	1,118	1,132	1,117	1,201
	Investment income				D4	42	288	98	53	19	182	259	216	269	428	545	764
		Interest (excluding FISIM)			D41	13	-5	22	0	-3	11	53	160	249	285	365	411
		Dividends / Other investment income			D42 + D44	11	275	58	35	5	154	188	38	2	126	162	336
		Rent of land and subsoil assets			D45	18	18	18	18	18	18	18	18	18	18	18	18
	Current transfer revenue				D39 + D7	197	228	417	225	240	270	303	321	296	302	321	316
		Subsidies			D39	0	0	0	0	0	0	0	0	0	0	0	0
		Other current transfers			D7	197	228	417	225	240	270	303	321	296	302	321	316
			Non-life insurance claims		D72	7	7	7	7	7	7	7	7	7	7	7	7
			Other Domestic - Current		D7N_S1	188	197	231	191	229	238	272	272	265	255	262	265
			From Rest of World - Current		D7N_S2	3	25	179	28	4	25	24	42	24	39	52	44
	Capital transfer revenue				D9N	130	124	295	163	141	181	169	199	165	232	214	210

Output					P1	11,590	12,105	12,390	12,463	12,634	12,986	13,056	14,173	13,529	13,982	13,927	15,172
	Market output (sales of market establishments)				P11	0	0	0	0	0	0	0	0	0	0	0	0
	Output for own final use				P12	6	6	6	6	6	6	6	6	6	6	6	6
	Non-market output				P13	11,584	12,100	12,385	12,458	12,629	12,980	13,051	14,167	13,523	13,976	13,921	15,166
		= Non-market compensation of employees			D1_nonmarket	6,252	6,707	6,864	6,786	6,927	7,083	7,043	7,675	7,612	7,734	7,750	7,964
			= Total compensation of employees		D1	6,258	6,713	6,870	6,791	6,933	7,089	7,048	7,681	7,617	7,740	7,755	7,970
			- Compensation of employees of market establishments		D1_market	0	0	0	0	0	0	0	0	0	0	0	0
			- Compensation related to production of own-use capital assets		D1_own-use	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6
		+ Non-market intermediate consumption			P2_nonmarket	3,921	3,981	4,109	4,261	4,065	4,261	4,372	4,856	4,275	4,606	4,535	5,566
			= Total intermediate consumption		P2	3,921	3,981	4,109	4,261	4,065	4,261	4,372	4,856	4,275	4,606	4,535	5,566
			- Intermediate consumption of market establishments		P2_market	0	0	0	0	0	0	0	0	0	0	0	0
			- Intermediate consumption related to production of own-use capital assets		P2_own-use	0	0	0	0	0	0	0	0	0	0	0	0
		+ Non-market consumption of fixed capital			P51c_nonmarket	1,411	1,411	1,411	1,411	1,636	1,636	1,636	1,636	1,636	1,636	1,636	1,636
			= Total consumption of fixed capital		P51c	1,411	1,411	1,411	1,411	1,636	1,636	1,636	1,636	1,636	1,636	1,636	1,636
			- Consumption of fixed capital by market establishments		P51c_market	0	0	0	0	0	0	0	0	0	0	0	0
			- Consumption of fixed capital related to production of own-use capital assets		P51c_own-use	0	0	0	0	0	0	0	0	0	0	0	0
		+ Other taxes on production, payable			D29_pay	0	0	0	0	0	0	0	0	0	0	0	0
		- Other subsidies on production, receivable			D39_rec	0	0	0	0	0	0	0	0	0	0	0	0

Open in Excel: Government Finance Statistics Quarter 4 2023 Table 2.1 (XLS 16KB)

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Expenditure

At €31.7 billion, total expenditure in Q4 2023 was €1.9 billion more than last year (€29.8 billion).

Intermediate consumption increased by €0.7 billion while social benefits were €0.4 billion higher and there was an additional €0.3 billion on pay (compensation of employees). Gross fixed capital formation also increased by €0.5 billion.

	Compensation of employees	Intermediate consumption	Interest	Social benefits	Subsidies	Gross investment in non-financial assets	Current transfers	Capital transfers
Q1 2021	6.3	3.9	0.8	9.4	1.8	1.8	1.4	0.4
Q2 2021	6.7	4	0.8	9.4	1.8	2.1	1.1	0.4
Q3 2021	6.9	4.1	0.8	9.4	1.9	2.4	0.9	0.4
Q4 2021	6.8	4.3	0.8	9.3	1.9	2.8	1.2	0.4
Q1 2022	6.9	4.1	0.8	8	1.3	2	1.1	0.5
Q2 2022	7.1	4.3	0.8	8.8	0.7	2.5	1.4	0.4
Q3 2022	7	4.4	0.8	9.7	0.6	2.8	1	0.4
Q4 2022	7.7	4.9	1	10.4	0.8	3.3	1.4	0.5
Q1 2023	7.6	4.3	0.9	8.7	0.6	2.2	2	0.5
Q2 2023	7.7	4.6	0.9	9.9	0.6	2.8	1	0.6
Q3 2023	7.8	4.5	0.9	10.4	0.6	3.2	1	0.6
Q4 2023	8	5.6	0.9	10.8	0.7	3.8	1.4	0.6

Table 2.2 General Government; detailed classification of expenditure and consumption

Table 2.2 General Government: detailed classification of expenditure and consumption
																	€million
Description					ESA2010 code	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4
Total Expenditure					TE	25,583	26,260	26,596	27,475	24,591	26,045	26,870	29,817	26,839	28,003	28,853	31,691
	Expense					25,234	25,558	25,634	26,132	24,221	25,191	25,678	28,188	26,230	26,879	27,321	29,537
		Compensation of employees			D1	6,258	6,713	6,870	6,791	6,933	7,089	7,048	7,681	7,617	7,740	7,755	7,970
			Of which: Related to production of own-use capital assets			6	6	6	6	6	6	6	6	6	6	6	6
		Use of goods and services plus taxes payable			P2 + D5 + D29	3,921	3,981	4,109	4,261	4,065	4,261	4,372	4,856	4,275	4,606	4,535	5,566
			Use of goods and services [Intermediate consumption]		P2	3,921	3,981	4,109	4,261	4,065	4,261	4,372	4,856	4,275	4,606	4,535	5,566
				Of which: Intermediate consumption of market establishments		0	0	0	0	0	0	0	0	0	0	0	0
			Taxes, payable		D5	0	0	0	0	0	0	0	0	0	0	0	0
		Depreciation (Consumption of fixed capital)			P51c	1,411	1,411	1,411	1,411	1,636	1,636	1,636	1,636	1,636	1,636	1,636	1,636
				Of which: Depreciation by market establishments		0	0	0	0	0	0	0	0	0	0	0	0
		Interest (excluding FISIM)			D41	827	834	805	825	759	787	831	950	862	884	865	875
			Other domestic interest payable		D41_S1	152	306	401	397	108	454	433	543	206	477	458	468
			Interest payable to rest of world		D41_S2	675	527	404	428	651	333	398	407	655	407	407	407
		Subsidies			D3	1,772	1,807	1,883	1,915	1,257	739	635	777	588	620	628	702
			Product subsidies		D31	378	399	431	457	432	454	490	504	427	489	500	527
			Other subsidies on production		D39	1,393	1,408	1,452	1,459	825	285	145	273	161	131	128	175
		Social benefits			D62 + D632	9,339	9,330	9,351	9,299	8,024	8,832	9,696	10,406	8,714	9,850	10,377	10,848
			Social benefits in cash		D62	8,016	7,589	6,811	6,900	6,596	6,896	6,894	7,711	7,019	7,640	7,186	7,908
			Social benefits in kind (via market producers)		D632	1,323	1,741	2,540	2,399	1,428	1,936	2,802	2,695	1,695	2,210	3,191	2,940
		Other current transfers			D7	1,358	1,142	868	1,180	1,081	1,433	1,024	1,389	2,003	981	965	1,382
			Net non-life insurance premiums		D71	20	20	20	20	21	21	21	21	21	21	21	21
			Current international cooperation		D74	96	157	93	133	153	177	92	154	99	89	100	160
			Miscellaneous current transfers		D75	310	289	170	75	149	477	149	502	876	102	91	375
			VAT and GNI based EU budget contribution		D76	932	676	586	953	758	759	762	712	1,007	769	752	826
				VAT-based EU own resources	D761	98	56	59	71	77	77	77	91	58	82	85	116
				GNI-based EU own resources	D762	835	547	490	846	644	644	647	537	898	638	617	670
				Miscellaneous EU own resources	D763	0	73	36	36	37	37	37	85	51	48	50	40
		Capital transfers			D9	349	340	337	449	466	413	437	493	535	563	559	559
			Investment grants		D92	346	322	330	446	462	411	434	493	535	531	530	555
			Other capital transfers		D99	2	19	7	3	3	3	3	- 0	0	32	29	4
	Net acquisition of non-financial assets				P5 + NP - P51c	349	702	961	1,343	371	855	1,192	1,629	609	1,124	1,531	2,154
		= Gross investment in non-financial assets			P5 + NP	1,760	2,113	2,372	2,754	2,007	2,491	2,828	3,265	2,246	2,760	3,168	3,790
			Gross fixed capital formation		P51	1,796	2,148	2,408	2,789	1,981	2,466	2,803	3,240	2,199	2,714	3,121	3,743
			Net acquisition of stocks		P52	-35	-35	-35	-35	25	25	25	25	47	47	47	47
			Net acquisition of unproduced assets		NP	0	0	0	0	0	0	0	0	0	0	0	0
		- Consumption of fixed capital			P51c	-1,411	-1,411	-1,411	-1,411	-1,636	-1,636	-1,636	-1,636	-1,636	-1,636	-1,636	-1,636
Net expenditure on current goods and services					P3 excl. D632	10,664	11,151	11,328	11,348	11,582	11,869	11,951	12,965	12,405	12,844	12,804	13,965
	= Output				P1	11,590	12,105	12,390	12,463	12,634	12,986	13,056	14,173	13,529	13,982	13,927	15,172
	- Sales of goods and services				P11+P12+P131	-926	-954	-1,063	-1,115	-1,053	-1,117	-1,105	-1,208	-1,123	-1,138	-1,123	-1,207
			Market output (sales of market establishments)		P11	0	0	0	0	0	0	0	0	0	0	0	0
			Output for own final use		P12	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6	-6
			Incidental sales and fees of non-market establishments		P131	-920	-949	-1,057	-1,109	-1,047	-1,112	-1,100	-1,202	-1,118	-1,132	-1,117	-1,201
Final consumption expenditure					P3	11,986	12,892	13,868	13,748	13,009	13,804	14,753	15,660	14,100	15,054	15,996	16,905
	= Net expenditure on current goods and services				P3 excl. D632	10,664	11,151	11,328	11,348	11,582	11,869	11,951	12,965	12,405	12,844	12,804	13,965
	+ Social transfers in kind via market producers				D632	1,323	1,741	2,540	2,399	1,428	1,936	2,802	2,695	1,695	2,210	3,191	2,940
made up of
	Individual consumption (= social transfers in kind)				P31 (= D63)	7,528	8,415	9,719	9,516	8,163	9,082	10,440	10,803	8,995	10,003	11,472	11,692
		Social transfers in kind (via market producers)			D632	1,323	1,741	2,540	2,399	1,428	1,936	2,802	2,695	1,695	2,210	3,191	2,940
		Social transfers in kind (provided directly by government)			D631	6,205	6,674	7,179	7,117	6,735	7,146	7,638	8,107	7,300	7,793	8,281	8,752
	Collective consumption (= actual final consumption of government)				P32	4,458	4,477	4,148	4,232	4,847	4,722	4,313	4,858	5,106	5,051	4,523	5,213
Total social transfers					D62 + D63	15,544	16,004	16,530	16,416	14,758	15,978	17,333	18,513	16,014	17,643	18,658	19,600
	Social benefits in cash				D62	8,016	7,589	6,811	6,900	6,596	6,896	6,894	7,711	7,019	7,640	7,186	7,908
	Social transfers in kind (= individual consumption)				D63	7,528	8,415	9,719	9,516	8,163	9,082	10,440	10,803	8,995	10,003	11,472	11,692