An Exchequer surplus of €1,001 million was recorded to end-February 2020. This compares to a surplus of €139 million in the same period last year. The €863 million year-on-year improvement is driven by an increase in tax revenues, and somewhat offset by increases in current and capital voted expenditure.
Tax revenues to end-February of €9,228 million were ahead of target by €285 million, or 3.2%, and ahead year-on-year by €1,122 million, or 13.8%.
Total net voted expenditure to end-February, at €8,094 million, was below profile by €256 million, or 3.1%. In year-on-year terms, this was up €138 million, or 1.7%, comprised of a 1.0% increase in current spending and a 12.2% increase in capital spending.
Combined non-tax revenue and capital receipts of €1,050 million were down €311 million year-on-year.
Non-voted expenditure of €1,183 million decreased year-on-year by €189 million, or 13.8%.