Different Types of Government Revenue


Government revenue is the money the government receives to pay for public services. There are two main types of government revenue:


Current revenue – recurring income that continues to be earned over time. Capital revenue – non-recurring income often received as a once-off.


1. Current Revenue


Current revenue is income the government collects on a recurring or continuous basis. It forms the main source of funding for everyday public services.


Source Tax


Fees & Charges


State Companies


Meaning


Money collected from people and businesses


Examples PAYE, VAT, Corporation Tax


Payments made for public services Passport fees Driving test fees


Profits from government-owned companies


2. Capital Revenue


Capital revenue is a source of one-off income the government receives occasionally, so it may not recur. It is used to fund large projects and major investments.


Sources of Capital Revenue Source


Meaning EU Grants


Sale of State Assets


Long-Term Borrowing


EU funding that does not have to be repaid, which helps pay for large infrastructure projects


Selling land, buildings, or the privatisation of a state asset.


Money borrowed from banks or investors that must be repaid with interest


Any profits made by ESB, An Post, Irish Rail


Examples


EU Grant for a new motorway


Selling government land Government bonds


Privatisation is the sale of a state-owned asset to private investors. For example, the government owned Aer Lingus and privatised it in 2006.


KEYWORDS 341


STRAND 3 CHAPTER 30: Government revenue and government expenditure


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