Government spent €13 billion on tackling Covid last year – CSO

Figures published the Central Statistics Office today give a provisional breakdown of the €13.1 billion spent by the Government last year to tackle Covid-19.

The Pandemic Unemployment Payment accounted for €5 billion, the CSO figures show.

The Temporary Wage Subsidy Scheme and its replacement, the Employment Wage Subsidy Scheme, accounted for €3.8 billion. Health sector expenditure came in at €2 billion.

Today’s figures show that €100m was spent on “primary care and repatriation”, €600m on restart grants for businesses.

€200m was spent on the Covid Restrictions Support Scheme (CRSS), €100m on other enterprise support schemes, €800m on IT services and €500m categorised as ‘other’.

The Government Finance Statistics confirm a deficit of €18.4 billion in the public finances in 2020. This is equal to 5% of GDP.

Overall Government revenues were down 3.9% with tax revenues down €2.5 billion compared to 2019.

Indirect taxes, which include VAT, were down 12.5% but direct taxes, which include income tax and corporation tax, were up 2.6%.

Spending was up 19.1%. This was an increase of €16.7 billion on 2019.

Borrowing was up €14 billion to bring the Gross General Government debt to €218.2 billion, the CSO figures show.

Article Source – Government spent €13 billion on tackling Covid last year – CSO – RTE – Robert Shortt

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