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19/09/2011
State Spending Down 10%
State spending has fell by almost 10% last year compared with 2009.
The 2010 annual report of the Comptroller and Auditor General shows that €53.8bn was paid out of the public coffers last year.
Money used to buy banking shares accounted for €725m while the amount being spent to service the national debt increased by just under €1bn or 37%.
Meanwhile overall public spending has increased to €148bn at the end of 2010.This is partly due to €30.9bn in promissory notes issued to recapitalise the banks.
Debt service costs increased by €1bn, or 31%, in 2010 mainly due to the increase in the amount of the debt.
The State's spending watchdog also revealed that a bulk of the costs since 2008 went on financial advice at €35.1m, while legal and accountancy expertise combined accounted for €38m.
A total of €73m in fees have been paid to financial experts, lawyers and other consultants contracted by the Government since the financial crisis hit.
It is understood overpayment of welfare payments increased by 65% last year to €83.4m.
Some €26m was blamed on fraud, but the C&AG said the Department of Social Protection could not provide a breakdown of how much money was recovered.
Social Protection Minister Joan Burton has revealed a clampdown on fraudsters, with an army of 600 inspectors set to track down social welfare cheats, aimed at saving the Exchequer €625m next year.
Meanwhile the report also criticised cash management practises in relation to grants received by many State bodies.
It outlines how bodies such as the Tourism Development Authority and the National Roads Authority receive State grants and some had a surplus at the end of their cash year.
The report said cash management of this kind did not seem consistent "with the principle of economy in the management of State funds".
It also said payments to State bodies should be aligned with their "actual cash funding needs".
(LB/GK)
The 2010 annual report of the Comptroller and Auditor General shows that €53.8bn was paid out of the public coffers last year.
Money used to buy banking shares accounted for €725m while the amount being spent to service the national debt increased by just under €1bn or 37%.
Meanwhile overall public spending has increased to €148bn at the end of 2010.This is partly due to €30.9bn in promissory notes issued to recapitalise the banks.
Debt service costs increased by €1bn, or 31%, in 2010 mainly due to the increase in the amount of the debt.
The State's spending watchdog also revealed that a bulk of the costs since 2008 went on financial advice at €35.1m, while legal and accountancy expertise combined accounted for €38m.
A total of €73m in fees have been paid to financial experts, lawyers and other consultants contracted by the Government since the financial crisis hit.
It is understood overpayment of welfare payments increased by 65% last year to €83.4m.
Some €26m was blamed on fraud, but the C&AG said the Department of Social Protection could not provide a breakdown of how much money was recovered.
Social Protection Minister Joan Burton has revealed a clampdown on fraudsters, with an army of 600 inspectors set to track down social welfare cheats, aimed at saving the Exchequer €625m next year.
Meanwhile the report also criticised cash management practises in relation to grants received by many State bodies.
It outlines how bodies such as the Tourism Development Authority and the National Roads Authority receive State grants and some had a surplus at the end of their cash year.
The report said cash management of this kind did not seem consistent "with the principle of economy in the management of State funds".
It also said payments to State bodies should be aligned with their "actual cash funding needs".
(LB/GK)
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