| Click for the Finfacts Ireland Portal Homepage |

Finfacts Business News Centre

   
Home 
 
 News
 Irish
 European
 International
 
 Analysis/Comment

RSS FEED


How to use our RSS feed

 
Web Finfacts

See Search Box lower down this column for searches of Finfacts news pages. Where there may be the odd special character missing from an older page, it's a problem that developed when Interactive Tools upgraded to a new content management system.

Welcome

Finfacts is Ireland's leading business information site and you are in its business news section.

We provide access to live business television and business related videos from: Bloomberg TV; The Wall Street Journal; CNBC and the Financial Times. Click image:

Links

Finfacts Homepage

Irish Share Prices

Euribor Daily Rates

Irish Economy

Global Income Per Capita

Global Cost of Living

Irish Tax 2008

Climate Change Reports

Global News

Bloomberg News

CNN Money

Cnet Tech News

Newspapers

Irish Independent

Irish Times

Irish Examiner

New York Times

Financial Times

Technology News

 

Feedback

 

Content Management by interactivetools.com.

News : Irish Last Updated: Apr 24, 2009 - 5:31:05 PM


Ireland's 40-year bonanza of foreign aid from the European Union will amount to €41 billion by the time we become a net contributor in 2013
By Finfacts Team
Feb 22, 2008 - 7:18:03 AM

Email this article
 Printer friendly page

Ireland will have received €41bn in net receipts from the European Union before becoming a net contributor in 2013.

The Department of Finance Secretary General David Doyle, said on Thursday that Ireland had received €60 billion from the EU since joining in 1973 and had paid back €20 billion so far.

The biggest gain for Ireland has been from the Common Agricultural Policy and in the pre-May 2004 EU 15, Irish net per capita income from the EU budget headed the rankings for many years.

One of Ireland's richest businessmen Larry Goodman, collects more than €500,000 in respect of his 1,600 estate and the amount is payable even if he just watches the grass grow.

Ireland is expected to contribute an estimated net €500 million annually to the EU budget from 2013.

David Doyle gave the data to a Dáil finance committee and said that Ireland received some €2 billion in support from the EU budget last year, but contributed some €1.5 billion.

This means that Ireland was in receipt of some €500 million from the EU budget in 2007, compared with some €1.5 billion just five years ago.

Doyle said that by 2011, the amount which the State receives and contributes to the EU budget is expected to be roughly equal. However, by 2013 Ireland should be a net contributor of some €500 million per year.

More than 80 per cent of the money allocated from the EU budget last year related to agriculture projects.

Doyle said in testimony to the Public Accounts Committee that Ireland received approximately €60 billion in EU support since it joined the European Economic Community in 1973.

But during that period, it has also paid out some €20 billion, leaving net receipts of some €40 billion.

By 2013, the State will have received approximately €72 billion and is expected to have paid out approximately €31 billion.

Commenting on the figures, Doyle said that EU investment in Irish agriculture remains high.

He said that the contribution of the EU to the Irish economy had been "massive" and agreed "absolutely" with the suggestion that there were other non-cash benefits from Irish EU membership. 

Statistics on Ireland's Net EU Receipts 1973-2004

Year

Receipts from EU budgets
(€ m)

Payments to EU budgets
(€ m)

Net EU receipts
(€ m)

% of GDP/GNI

2004

2,813.9

1,220.1

1593.8

1.3%

2003

2,690.8

1,130.7

1,560.1

1.4%

2002

2,545.0

1100.0

1,445.0

1.5%

2001

2,488.8

1,220.0

1,265.3

1.15%

2000

2,602.1

1,075.0

1,527.1

1.9%

1999

2,678.9

1,050.9

1,628.0

1.9%

1998

3,015.9

989.4

2,026.5

2.9%

1997

3,179.9

652.0

2,527.9

3.4%

1996

2,818.2

687.1

2,131.1

3.8%

1995

2,568.9

689.2

1,879.7

4.0%

1994

2,338.1

641.9

1,696.2

3.8%

1993

2,850.9

575.8

2,275.1

3.8%

1992

2,531.9

448.7

2,083.1

5.5%

1991

2,794.9

442.1

2,352.8

5.5%

1990

2,210.6

359.2

1,851.4

5.4%

1989

1,644.7

362.6

1,282.1

4.0%

1988

1,474.9

314.6

1,160.3

4.0%

1987

1,397.1

324.0

1,073.1

4.0%

1986

1,455.9

305.1

1,150.8

4.6%

1985

1,433.2

270.8

1,162.3

4.9%

1984

1,100.5

257.1

843.4

4.0%

1983

924.0

234.5

689.5

3.6%

1982

764.4

173.6

590.9

3.5%

1981

643.6

133.8

509.7

3.5%

1980

711.8

112.9

598.9

5.0%

1979

671.8

76.9

594.9

5.9%

1978

520.8

58.5

462.3

5.4%

1977

346.5

28.1

318.5

4.4%

1976

151.7

17.0

134.7

2.3%

1975

138.5

12.4

126.1

2.6%

1974

85.6

7.0

78.6

2.0%

1973

47.1

5.7

41.4

1.2%

1973-2004

48,787.0

12,657

36,130

- €36 billion

Related Articles


© Copyright 2007 by Finfacts.com

Top of Page

Irish
Latest Headlines
Bank of Scotland Ireland to close Halifax network with loss of 750 jobs; Entry to Irish mortgage market in 1999 resulted in significant increase in competition
Annual volume of Irish retail sales fell 14.1% in 2009 - -down 18% in value terms; Sales rose 0.4% in December
Honohan says Government will provide further significant capital funding to the Irish banks in coming weeks
Economist George Lee abandons broken Irish political system; Resigns from Dáíl and Fine Gael
AIB Bank error in account classification results in overcharging on 40,000 accounts - - requiring average refunds of €100
Irish Consumer Sentiment rose in January
IBEC calls for 10% rebate on commercial rates for Irish retailers from cash-strapped local authorities
Irish construction activity continued to fall sharply in January but at slowest pace in five months
Surveyors predict 40,000 more job losses in Irish construction in 2010 from 2007 peak of 269,000 to 1995 low of below 100,000; Call for property tax
Finance Bill 2010: Provisions to increase the attractiveness of Ireland as a location for investment and transfer pricing changes for multinationals included
National Irish Bank reports 2009 pre-tax loss of €661 million
Irish Live Register rises by 5,800 in January to 434,700
Irish services sector PMI fell sharply in January; Intense competition continued to drive down output prices
Irish pension funds' returns fell in January
Official figures show 6,700 full-time workers were made redundant in January; Live Register expected to show rise of about 13,000
ESRI slams Gormley's gombeenism on incineration; Irish waste policy has “no underlying rationale”; Likely to impose “needless costs on.. economy"
Irish Exchequer returns for January show tax receipts down 17.7% compared with January 2008
Central Bank says in 2009 credit ex-valuations effects dipped 3.2% for Irish non-financial corporations; Household credit dropped 1.5% and residential mortgages were 0.3% lower
Irish manufacturing output fell in January as freezing weather conditions hit operations
Ryanair posts fiscal Q3 loss of €11m; Revenues rose 1%; Passengers numbers up 14%; Profit forecast raised