Year end figures show exchequer in a good position after increased revenue and decreased government spending.
The public finances are in good shape according to figures released by the Department of Finance. Much of the growth in revenue is being largely attributed to the property market.
The amount of money the government is taking in is going up.
Excise on drink and tobacco are also bringing in more revenue and car purchases are also providing a boost to tax receipts.
Spending from government departments was 1.5% less than forecast. The Department of Health alone under spent by €194 million. The Department of the Environment spent €104 million less than forecast as a result of delays in building social housing. There has also been a fall in the number of people in receipt of social welfare payments saving the Department of Social and Family Affairs €75 million.
According to senior civil servant at the Department of Finance Philip Hamill, the end of year figures show the exchequer to be in a good position pointing out that at the start of the year the department had anticipated borrowing about €3 billion. In fact, they have only had to borrow about €500 million.
The Department of Finance believes that the country is in a strong position of growth for 2006. However, it does believe that the property market could ease somewhat.
An RTÉ News report broadcast on 4 January 2006. The reporter is David Murphy.
