An Exchequer surplus of €1,666 million was recorded to end January 2020. This compares to a surplus of €1,643 million in the same month last year. The €23 million year-on-year improvement is driven by an increase in tax revenues, and somewhat offset by increases in both current and capital voted expenditure.
Tax revenues of €5,907 million in January were ahead year-on-year by 10.0%, or €537 million.
Total net voted expenditure in the month, at €4,575 million, was up €360 million, or 8.5% in year-on-year terms, comprised of a 6.6% increase in current spending and a 43.8% increase in capital spending.