LENDING HIS SUPPORT to the EU fiscal compact treaty, Fine Gael TD Noel Harrington says its ratification will ensure future governments adopt a “sensible approach to spending”.

The Dáil deputy says he has done the sums which support his stance on the upcoming referendum.

According to 2012 estimates, the Irish Government will be spending €55.85 billion but only taking in €38.08 billion, the Cork deputy told the Dáíl last week.
That means that €12,192 is being spent for every man, woman and child in this country, while only €8,312 is being raised in taxes and other income per person.

We are overspending by €3,879 for every man, woman and child.

Harrington argued that previous government squandered billions of euro on “pet and vanity projects” such as e-voting and Stadium Campus Ireland (or the Bertie Bowl as it became known).

Such projects – a long with 18 others – amounted to €7.3 billion of mismanagement and waste between 1997 and 2007, he said.

Breaking down the figures further, Harrington said the money to be spent on each member of the Irish population this year could be divided as follows:

• €4,485 on social welfare
• €3,065 on the health service
• €1,971 on education
• €500 on the provision of the justice system.

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In simple terms, the money received per person can be broken down in the following way:

• €3,294 in income tax
• €2,130 in VAT
• €1,000 in excise duties
• €305 in stamp duties.

More: Exchequer figures show deficit and tax revenue rise>