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Government Finance Statistics Quarter 4 2024

Non-Financial Accounts

Online ISSN: 2009-6178

CSO statistical release, 23 April 2025, 11am

Revenue

Total government revenue this quarter was €1.7 billion higher than Q4 2023. This rise is primarily due to taxes with an increase of €2.0 billion, the majority of which is resulting from the increase of €1.6 billion in direct taxes (corporation and income tax).

Elsewhere, social contributions increased by €0.5 billion and indirect taxes (including VAT) were around €0.2 billion higher than Q4 2023. However, this was offset by a decrease of €0.4 billion in investment income and €0.2 billion in other current transfers when compared with Q4 2023.

Following the ruling of the Court of Justice of the European Union on the 10th September 2024, there is a D.99 (capital transfer) receipt in Q3 2024 which recognised the amount in full of €14,164m. This recording is in accordance with the ESA 2010 guidance on court decisions where the time of recording is aligned with the time of the final ruling.

	Indirect taxes	Direct taxes	Capital taxes	Social contributions	Investment income	Sales of goods and services	Current transfers	Capital transfers
Q1 2022	8.5	9.6	0.1	4.8	0	1.1	0.2	0.2
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	4.9	0.3	1.1	0.3	0.2
Q4 2022	7.3	20	0.4	5.4	0.2	1.2	0.4	0.2
Q1 2023	8.9	11.5	0.1	5.2	0.3	1.2	0.3	0.2
Q2 2023	6.9	15.4	0.1	5.2	0.4	1.2	0.3	0.2
Q3 2023	9.5	11.8	0.1	5.2	0.5	1.2	0.4	0.2
Q4 2023	8	20.9	0.4	5.6	0.7	1.2	0.5	0.4
Q1 2024	10	11.4	0.1	5.6	0.4	1.1	0.3	0.2
Q2 2024	7.2	18.4	0.1	5.6	0.7	1.2	0.2	0.2
Q3 2024	10.3	14	0.1	5.5	0.6	1.1	0.3	14.4
Q4 2024	8.2	22.5	0.6	6.1	0.3	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	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Total Revenue					TR	24,363	27,689	28,814	35,142	27,608	29,665	28,844	37,674	29,039	33,559	46,275	39,412
	Taxes and social contributions					22,885	25,892	26,972	33,110	25,737	27,586	26,649	34,903	27,028	31,292	29,905	37,354
		Taxes			D2 + D5 + D91	18,117	20,987	22,032	27,702	20,493	22,337	21,488	29,276	21,436	25,710	24,384	31,271
			Indirect taxes (taxes on production and imports)		D2	8,481	6,421	9,374	7,335	8,937	6,869	9,533	8,008	10,018	7,247	10,259	8,170
				Taxes on products	D21	7,591	5,378	8,490	6,319	7,805	5,614	8,606	7,113	8,584	5,948	9,351	7,189
				of which Value-Added Tax	D211	5,601	3,183	6,344	4,048	5,929	3,455	6,576	4,417	6,480	3,624	7,098	4,677
				Other taxes on production	D29	889	1,043	884	1,016	1,132	1,254	927	894	1,434	1,299	909	981
			Direct taxes		D5	9,574	14,497	12,568	19,974	11,499	15,409	11,846	20,860	11,353	18,383	14,015	22,503
				Taxes on income, profits and capital gains	D51	9,318	14,264	12,335	19,765	11,234	15,170	11,616	20,652	11,091	18,133	13,778	22,292
				Other current direct taxes	D59	256	233	234	208	265	239	230	208	262	250	237	211
			Capital taxes		D91	63	69	89	393	57	60	109	408	65	81	110	598
		Social contributions			D61	4,767	4,905	4,941	5,408	5,243	5,248	5,161	5,628	5,591	5,581	5,521	6,083
			Actual social contributions		D611 + D613	3,729	3,882	3,916	4,441	4,267	4,289	4,176	4,641	4,614	4,639	4,568	5,120
				PRSI receipts	D611 + D613(pt)	3,316	3,463	3,503	3,951	3,803	3,812	3,706	4,155	4,112	4,110	4,049	4,601
				Government employees' pension contributions	D613(pt)	413	419	413	489	465	477	470	485	502	530	519	519
			Employers' imputed social contributions		D612	1,039	1,023	1,025	967	976	959	986	987	977	942	953	963
	Sales of goods and services				P1O	1,057	1,122	1,110	1,214	1,157	1,170	1,156	1,246	1,136	1,158	1,118	1,221
		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	1,051	1,117	1,105	1,208	1,151	1,164	1,150	1,240	1,130	1,153	1,112	1,215
	Investment income				D4	19	182	259	210	253	397	495	692	388	656	623	331
		Interest (excluding FISIM)			D41	-3	11	53	155	233	254	316	338	353	301	338	285
		Dividends / Other investment income			D42 + D44	5	154	188	38	3	126	162	336	18	337	268	28
		Rent of land and subsoil assets			D45	18	18	18	18	18	18	18	18	18	18	18	18
	Current transfer revenue				D39 + D7	249	297	297	389	285	322	352	476	302	250	253	293
		Subsidies			D39	0	0	0	0	0	0	0	0	0	0	0	0
		Other current transfers			D7	249	297	297	389	285	322	352	476	302	250	253	293
			Non-life insurance claims		D72	7	7	7	7	7	7	7	7	7	7	7	7
			Other Domestic - Current		D7N_S1	229	238	272	272	265	255	262	265	269	242	245	268
			From Rest of World - Current		D7N_S2	13	52	18	110	13	60	83	204	26	0	1	18
	Capital transfer revenue				D9N	154	195	175	219	177	190	192	356	185	204	14,375	213

Output					P1	12,617	12,971	13,065	14,145	13,832	14,297	14,283	15,524	14,663	15,404	15,207	16,165
	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	12,611	12,965	13,060	14,140	13,827	14,291	14,277	15,518	14,658	15,399	15,202	16,159
		= Non-market compensation of employees			D1_nonmarket	6,938	7,094	7,074	7,705	7,682	7,806	7,848	8,052	8,269	8,566	8,556	8,604
			= Total compensation of employees		D1	6,943	7,100	7,079	7,711	7,688	7,811	7,854	8,057	8,274	8,572	8,562	8,610
			- 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	4,007	4,205	4,319	4,768	4,326	4,668	4,611	5,648	4,571	5,014	4,827	5,737
			= Total intermediate consumption		P2	4,007	4,205	4,319	4,768	4,326	4,668	4,611	5,648	4,571	5,014	4,827	5,737
			- 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	1,666	1,666	1,666	1,666	1,818	1,818	1,818	1,818	1,818	1,818	1,818	1,818
			= Total consumption of fixed capital		P51c	1,666	1,666	1,666	1,666	1,818	1,818	1,818	1,818	1,818	1,818	1,818	1,818
			- 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 2024 Table 2.1 (XLS 15KB)

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Expenditure

At €34.2 billion, total expenditure in Q4 2024 was €2.5 billion more than last year (€31.7 billion).

Social benefits increased by €1.1 billion while there was an additional €0.6 billion on pay (compensation of employees). Capital transfers and gross fixed capital formation also increased by €0.4 billion and €0.2 billion, respectively.

	Compensation of employees	Intermediate consumption	Interest	Social benefits	Subsidies	Gross investment in non-financial assets	Current transfers	Capital transfers
Q1 2022	6.9	4	0.8	8.1	1.3	2	1.1	0.5
Q2 2022	7.1	4.2	0.8	8.9	0.7	2.5	1.4	0.4
Q3 2022	7.1	4.3	0.8	9.7	0.6	2.8	1	0.4
Q4 2022	7.7	4.8	0.9	10.4	0.8	3.3	1.4	0.5
Q1 2023	7.7	4.3	0.9	8.7	0.6	2.3	2	0.6
Q2 2023	7.8	4.7	0.9	9.8	0.6	2.7	1	0.6
Q3 2023	7.9	4.6	0.8	10.4	0.6	3.1	1	0.6
Q4 2023	8.1	5.6	0.8	10.8	0.7	3.8	1.3	0.6
Q1 2024	8.3	4.6	0.8	9.6	0.6	3.1	1.9	0.6
Q2 2024	8.6	5	0.8	10.1	0.6	3.6	1	0.7
Q3 2024	8.6	4.8	0.8	10.9	0.6	3.5	1	0.7
Q4 2024	8.6	5.7	0.8	12	0.8	3.9	1.4	1

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	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4
Total Expenditure					TE	24,609	26,020	26,879	29,808	27,018	28,141	28,998	31,734	29,552	30,432	30,919	34,201
	Expense					24,277	25,204	25,709	28,219	26,541	27,253	27,689	29,787	28,268	28,639	29,258	32,105
		Compensation of employees			D1	6,943	7,100	7,079	7,711	7,688	7,811	7,854	8,057	8,274	8,572	8,562	8,610
			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	4,007	4,205	4,319	4,768	4,326	4,668	4,611	5,648	4,571	5,014	4,827	5,737
			Use of goods and services [Intermediate consumption]		P2	4,007	4,205	4,319	4,768	4,326	4,668	4,611	5,648	4,571	5,014	4,827	5,737
			Taxes, payable		D5	0	0	0	0	0	0	0	0	0	0	0	0
		Depreciation (Consumption of fixed capital)			P51c	1,666	1,666	1,666	1,666	1,818	1,818	1,818	1,818	1,818	1,818	1,818	1,818
		Interest (excluding FISIM)			D41	758	787	830	947	868	881	850	845	823	808	830	754
			Other domestic interest payable		D41_S1	108	454	432	539	213	481	356	437	169	415	260	364
			Interest payable to rest of world		D41_S2	651	333	398	407	655	400	494	408	654	392	569	390
		Subsidies			D3	1,261	738	630	812	595	624	630	733	599	621	645	829
			Product subsidies		D31	386	404	436	448	397	456	465	491	419	442	465	498
			Other subsidies on production		D39	875	334	195	365	198	168	165	242	180	179	180	331
		Social benefits			D62 + D632	8,058	8,863	9,722	10,434	8,676	9,813	10,351	10,832	9,648	10,101	10,853	11,967
			Social benefits in cash		D62	6,634	6,935	6,932	7,749	6,941	7,562	7,109	7,831	7,844	7,713	7,550	8,843
			Social benefits in kind (via market producers)		D632	1,423	1,928	2,790	2,685	1,735	2,250	3,242	3,001	1,804	2,388	3,303	3,124
		Other current transfers			D7	1,080	1,432	1,022	1,387	1,993	1,041	995	1,294	1,944	1,022	1,016	1,411
			Net non-life insurance premiums		D71	21	21	21	21	21	21	21	21	21	21	21	21
			Current international cooperation		D74	153	177	92	154	99	89	70	160	154	154	52	176
			Miscellaneous current transfers		D75	147	475	147	500	866	162	151	365	929	149	225	507
			VAT and GNI based EU budget contribution		D76	758	759	762	712	1,007	769	752	748	839	698	719	707
				VAT-based EU own resources	D761	77	77	77	91	58	82	85	116	205	92	98	104
				GNI-based EU own resources	D762	644	644	647	537	898	638	617	592	584	561	572	529
				Miscellaneous EU own resources	D763	37	37	37	85	51	48	50	40	51	45	48	74
		Capital transfers			D9	504	413	438	493	577	597	581	559	591	683	707	977
			Investment grants		D92	462	411	434	493	535	531	530	555	534	680	703	972
			Other capital transfers		D99	41	3	5	0	42	66	51	4	57	3	5	6
	Net acquisition of non-financial assets				P5 + NP - P51c	332	815	1,170	1,589	477	888	1,309	1,947	1,284	1,793	1,661	2,096
		= Gross investment in non-financial assets			P5 + NP	1,998	2,482	2,836	3,255	2,295	2,706	3,127	3,765	3,102	3,611	3,479	3,915
			Gross fixed capital formation		P51	2,017	2,501	2,856	3,274	2,237	2,648	3,069	3,707	3,110	3,619	3,487	3,922
			Net acquisition of stocks		P52	-19	-19	-19	-19	58	58	58	58	-8	-8	-8	-8
			Net acquisition of unproduced assets		NP	0	0	0	0	0	0	0	0	0	0	0	0
		- Consumption of fixed capital			P51c	-1,666	-1,666	-1,666	-1,666	-1,818	-1,818	-1,818	-1,818	-1,818	-1,818	-1,818	-1,818
Net expenditure on current goods and services					P3 excl. D632	11,560	11,848	11,955	12,932	12,676	13,127	13,127	14,278	13,527	14,246	14,090	14,944
	= Output				P1	12,617	12,971	13,065	14,145	13,832	14,297	14,283	15,524	14,663	15,404	15,207	16,165
	- Sales of goods and services				P11+P12+P131	-1,057	-1,122	-1,110	-1,214	-1,157	-1,170	-1,156	-1,246	-1,136	-1,158	-1,118	-1,221
			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	-1,051	-1,117	-1,105	-1,208	-1,151	-1,164	-1,150	-1,240	-1,130	-1,153	-1,112	-1,215
Final consumption expenditure					P3	12,984	13,777	14,745	15,617	14,411	15,378	16,370	17,278	15,331	16,634	17,392	18,068
	= Net expenditure on current goods and services				P3 excl. D632	11,560	11,848	11,955	12,932	12,676	13,127	13,127	14,278	13,527	14,246	14,090	14,944
	+ Social transfers in kind via market producers				D632	1,423	1,928	2,790	2,685	1,735	2,250	3,242	3,001	1,804	2,388	3,303	3,124
made up of
	Individual consumption (= social transfers in kind)				P31 (= D63)	8,145	9,060	10,424	10,770	9,195	10,211	11,717	11,946	9,740	10,999	12,306	12,478
		Social transfers in kind (via market producers)			D632	1,423	1,928	2,790	2,685	1,735	2,250	3,242	3,001	1,804	2,388	3,303	3,124
		Social transfers in kind (provided directly by government)			D631	6,721	7,132	7,633	8,085	7,460	7,961	8,474	8,945	7,937	8,611	9,004	9,354
	Collective consumption (= actual final consumption of government)				P32	4,839	4,716	4,321	4,847	5,215	5,166	4,653	5,333	5,591	5,635	5,086	5,590
Total social transfers					D62 + D63	14,779	15,995	17,355	18,519	16,136	17,774	18,826	19,777	17,584	18,712	19,857	21,321
	Social benefits in cash				D62	6,634	6,935	6,932	7,749	6,941	7,562	7,109	7,831	7,844	7,713	7,550	8,843
	Social transfers in kind (= individual consumption)				D63	8,145	9,060	10,424	10,770	9,195	10,211	11,717	11,946	9,740	10,999	12,306	12,478