Minister McGrath updates Cabinet on 2021 Year End Expenditure Position
Published on: 27 January 2022
Total overall gross voted expenditure for 2021, as set out in the December Fiscal Monitor was €87.5 billion. This overall spending was €1.4 billion or 1.5% below the full year allocation for 2021 and was €2.3 billion or 2.6% ahead on the 2020 end year position.
Speaking on the expenditure position, Minister McGrath said:
"The end year position in 2021 shows the significant support provided by the Government throughout 2021 in response to the ongoing Covid 19 pandemic. Gross Voted Expenditure in 2021 reached €87.5 billion. This included some €13.5 billion provided to support people, the economy and public services in dealing with the impacts of Covid 19.
“An unprecedented level of support has been provided to sustain the economy and livelihoods including in excess of €8 billion through the Employment Wage Subsidy Scheme and the Pandemic Unemployment Payment. In addition, over €2 billion was allocated to our Health and Education sectors to ensure these important public services could operate effectively in dealing with the challenges of Covid-19.
“Notwithstanding the improving Covid situation, Government recognises the importance of not having a cliff edge in terms of supports. We have taken a prudent approach to Budget 2022, providing €3.1 billion additional funding for measures to address the challenges of Covid in department’s estimates for this year. A further €3.9 billion is being held in reserve to be allocated during 2022 as needed. This has ensured that the necessary resources are available to extend the key support measures in response to Covid.
“The true lasting legacy of the pandemic will be the long term improvement of public services for the benefit of all. Budget 2022 provided allocations for significant investment across our public services with core spending expected to reach €80.1 billion. This level is consistent with the sustained reduction in the deficit to which we committed to in the Summer Economic Statement.
As we reopen our economy, and through our medium term expenditure strategy, we will emerge from the pandemic, improve our public services and place our national finances on a sustainable path once again. "
