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Northern Ireland fiscal deficit from 1999 to 2018. Northern Ireland has a fiscal deficit (also known as a subvention [1] or subsidy [2]) since the public expenditure in the country exceeds the tax revenue. The deficit typically runs at a rate of £10 billion per annum which is more
3.2 Jun 2023 quarterly Estonia: −1.7 Jun 2023 quarterly European Union: −3.3 2022 yearly Finland: −1.5 Jun 2023 quarterly France: −5.0 Jun 2023 quarterly Georgia: −2.0 Jun 2023 quarterly Germany: −3.4 Jun 2023 quarterly Greece: −1.3 Dec 2018 monthly Hungary: −8.2 Jun 2023 quarterly Iceland: −1.5 Jun 2023 quarterly Ireland: 2.2
A positive (+) number indicates that revenues exceeded expenditures (a budget surplus), while a negative (-) number indicates the reverse (a budget deficit). Normalizing the data, by dividing the budget balance by GDP, enables easy comparisons across countries and indicates whether a national government saves or borrows money.
[2] The UK government has spent more than it has raised in taxation since financial year 2001-02, [3] creating a budget deficit and leading to growing debt interest payments. Average government spending per person is higher in Scotland, Wales and Northern Ireland than it is in England.
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Wales' net fiscal deficit increased from £14.4 billion in 2020 to £25.9 billion in 2021. All countries and regions in the UK had a fiscal deficit in 2021, which included the North West of England at £49.9 billion; Scotland at £36 billion; Northern Ireland at £18 billion; London at £7.2 billion. [4] Net fiscal balance by UK nation and ...
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This fiscal deficit increased from £14.4 billion in 2019/20 to £25.9 billion in 2020/21. All countries and regions in the UK had a fiscal deficit in 2020/1, which included the North West of England at £49.9 billion; Scotland at £36 billion; Northern Ireland at £18 billion; London at £7.2 billion. [17]