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Ministry of Finance, Statistical Service



10/06/2005
LATEST FIGURES: QUARTERLY ACCOUNTS OF GENERAL GOVERNMENT, 1st QUARTER 2005
10/06/2005

According to the preliminary data on the General Government accounts for the period Jan-March compiled in accordance to E.U. concepts and definitions, the total revenue amounted to £828,8 mn (36,2% increase in relation to the first quarter of 2004) while total expenditure reached £715,0 mn (8,8% increase in relation to the same quarter of 2004).

As a result for the first quarter of 2005 showed a surplus of £113,8 mn, compared to a public deficit of £48,9 mn during the first quarter of 2004.

The surplus is mainly attributed to the revenue from tax amnesty, from the increased revenue of VAT, income and wealth tax and capital transfers received.

The main categories of revenue for the period Jan-March 2005 were: taxes on production and imports £307,4 mn, of which VAT was £181,8 mn (12,8% increase) taxes on income and wealth £194,7 mn (34,9% increase), capital transfers £71,0 mn (tax amnesty £69,8 mn), social contributions £137,1 mn (6,9% increase), sales of goods and services £51,5 (6% increase).

The main categories of expenditure for the first quarter of 2005 were: compensation of employees £264,4 mn (5% increase), social transfers £193,7 mn (22,4% increase), interest paid £71,8 mn (29,3% decrease), intermediate consumption £58,3 mn (10,6% decrease).











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