Exchequer Monitor

This page provides up-to-date information on monthly cash receipts received by the government.


Exchequer Returns: End-October 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 44,973 44,267 706 1.6
     Income Tax 17,589 17,565 24 0.1
     VAT 12,553 12,652 -99 -0.8
     Corporation Tax 6,885 6,225 660 10.6
     Excise Duty 4,895 4,814 81 1.7
     Other Taxes 3,051 3,011 40 1.3
PRSI Receipts 9,290 9,023 267 3.0
Other Revenue 3,946 3,631 315 8.7
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 58,209 56,922 1,287 2.3

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the cumulative performance of different Exchequer tax revenue sources and PRSI. For the year to end-October, PRSI revenue and corporation tax are substantially above profile, and the remaining tax revenues are either broadly on track (VAT) or higher than forecast.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-September 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 40,782 40,107 675 1.7
     Income Tax 15,752 15,711 41 0.3
     VAT 12,313 12,359 -46 -0.4
     Corporation Tax 5,839 5,281 558 10.6
     Excise Duty 4,365 4,276 89 2.1
     Other Taxes 2,513 2,480 33 1.3
PRSI Receipts 8,383 8,080 303 3.7
Other Revenue 3,610 3,324 286 8.6
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 52,775 51,512 1,263 2.5

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the cumulative performance of different Exchequer tax revenue sources and PRSI. For the year to end-September, PRSI revenue is substantially above profile, and tax revenues are either broadly on track (VAT) or higher than forecast.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-August 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 35,048 34,818 230 0.7
     Income Tax 14,080 14,128 -48 -0.3
     VAT 9,901 10,045 -144 -1.4
     Corporation Tax 4,928 4,614 314 6.8
     Excise Duty 3,916 3,803 113 3.0
     Other Taxes 2,223 2,228 -5 -0.2
PRSI Receipts 7,459 7,211 248 3.4
Other Revenue 3,250 3,050 200 6.6
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 45,757 45,079 678 1.5

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the tax revenue and PRSI performance to end-August 2019. Exchequer tax revenue and PRSI receipts are cumulatively above profile: overperforming corporation tax, PRSI and excise duties have offset underperforming VAT, stamp duties, and income tax.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-July 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 31,944 31,834 110 0.3
     Income Tax 12,219 12,408 -189 -1.5
     VAT 9,749 9,771 -22 -0.2
     Corporation Tax 4,611 4,401 210 4.8
     Excise Duty 3,426 3,298 128 3.9
     Other Taxes 1,939 1,956 -17 -0.9
PRSI Receipts 6,685 6,369 316 5.0
Other Revenue 2,931 2,788 143 5.1
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 41,560 40,991 569 1.4

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the tax revenue and PRSI performance to end-July 2019. Exchequer tax revenue and PRSI receipts are cumulatively above profile: overperforming corporation tax and excise duties have offset underperforming income tax and stamp duties
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-June 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 26,672 26,799 -127 -0.5
     Income Tax 10,492 10,539 -47 -0.4
     VAT 7,446 7,594 -148 -1.9
     Corporation Tax 4,174 4,233 -59 -1.4
     Excise Duty 2,921 2,791 130 4.7
     Other Taxes 1,639 1,642 -3 -0.2
PRSI Receipts 5,590 5,435 155 2.9
Other Revenue 2,661 2,478 183 7.4
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 34,923 34,712 211 0.6

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the tax revenue and PRSI performance to end-June 2019. Exchequer tax revenue and PRSI receipts are cumulatively above profile. Underperforming VAT, corporation tax and (to a lesser extent) income tax receipts are not offset by overperforming excise duties, and PRSI revenue is above profile.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-May 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 21,711 21,962 -251 -1.1
     Income Tax 8,725 8,780 -55 -0.6
     VAT 7,308 7,420 -112 -1.5
     Corporation Tax 1,807 2,040 -233 -11.4
     Excise Duty 2,448 2,304 144 6.3
     Other Taxes 1,423 1,418 5 0.4
PRSI Receipts 4,703 4,570 133 2.9
Other Revenue 2,270 2,083 187 9.0
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 28,684 28,614 70 0.2

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the tax revenue and PRSI performance to end-May 2019. Exchequer tax revenue and PRSI receipts are below profile. Underperforming corporation tax, VAT and (to a lesser extent) income tax receipts are not offset by overperforming excise duties, and PRSI.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-April 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 15,570 15,597 -27 -0.17
     Income Tax 6,965 7,138 -173 -2.4
     VAT 4,992 5,183 -191 -3.7
     Corporation Tax 468 311 157 50.5
     Excise Duty 1,967 1,826 141 7.7
     Other Taxes 1,178 1,139 39 3.4
PRSI Receipts 3,777 3,706 71.3 1.9
Other Revenue 1,302 1,280 22.3 1.7
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 20,649 20,582 66.5 0.3

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the tax revenue and PRSI performance to end-April 2019. Exchequer tax revenue and PRSI receipts are broadly on profile. Underperforming income tax and VAT receipts are offset by overperforming excise duties, corporation tax and excise duties.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-March 2019 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 12,795 12,638 157 1.2
     Income Tax 4,973 5,144 -171 -3.3
     VAT 4,986 5,007 -21 -0.4
     Corporation Tax 524 257 267 103.9
     Excise Duty 1,375 1,345 30 2.2
     Other Taxes 937 885 52 5.9
PRSI Receipts 2,755 2,696 59 2.2
Other Revenue 957 964 -7 -0.7
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 16,507 16,298 209 1.3

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax Receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the tax revenue and PRSI performance to end-March 2019. Overperforming corporation tax, together with strong PRSI and other revenue have offset underpeforming income tax and VAT receipts.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-December 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 55,558 54,175 1,383 2.6
     Income Tax 21,242 21,445 -203 -0.9
     VAT 14,234 14,090 144 1.0
     Corporation Tax 10,385 8,505 1,880 22.1
     Excise Duty 5,418 5,820 -402 -6.9
     Other Taxes 4,279 4,315 -36 -0.8
PRSI Receipts 10,457 10,244 213 2.1
Other Revenue 4,974 4,344 630 14.5
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 70,989 68,763 2,226 3.2

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
The graph shows that Exchequer tax revenue and PRSI have outperformed by €1.5 billion cumulatively to end-November 2018, largely driven by higher-than 
                        expected corporation tax receipts and PRSI revenue
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-November 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 51,435 50,212 1,223 2.4
     Income Tax 19,455 19,547 -92 -0.5
     VAT 14,080 13,986 94 0.7
     Corporation Tax 9,446 7,898 1,548 19.6
     Excise Duty 4,997 5,316 -319 -6.0
     Other Taxes 3,457 3,465 -8 -0.2
PRSI Receipts 9,611 9,371 240 2.6
Other Revenue 4,031 3,863 168 4.3
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 65,077 63,446 1,631 2.6

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other taxes include stamps, capital taxes, motor tax, customs and other unallocated tax receipts. Other revenue includes the National Training Fund, other A-in-As, non-tax Revenue, and capital resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
The graph shows that Exchequer tax revenue and PRSI have outperformed by €1.5 billion cumulatively to end-November 2018, largely driven by higher-than 
                        expected corporation tax receipts and PRSI revenue
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-October 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 42,165 41,569 596 1.4
     Income Tax 16,268 16,278 -10 -0.1
     VAT 11,811 11,900 -89 -0.7
     Corporation Tax 6,738 5,658 1,080 19.1
     Excise Duty 4,419 4,780 -361 -7.6
     Other Taxes 2,929 2,953 -24 -0.8
PRSI Receipts 8,507 8,344 163 2.0
Other Revenue 3,632 3,285 347 10.6
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 54,304 53,198 1,106 2.1

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
The graph shows that Exchequer tax revenue and PRSI have outperformed by €0.8 billion cumulatively to end-October 2018. Higher-than expected corporation tax 
                        receipts and PRSI revenue have both more than offset underperforming excise duties and, to a lesser extent, VAT revenue.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-September 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 37,529 37,656 -127 -0.3
↳ Income Tax 14,535 14,542 -7 -0.1
VAT 11,571 11,610 -39 -0.3
↳ Corporation Tax 5,159 4,853 306 6.3
↳ Excise Duty 3,879 4,218 -339 -8.0
↳ Other Taxes 2,385 2,433 -48 -2.0
PRSI Receipts 7,621 7,466 155 2.1
Other Revenue 3,272 3,008 264 8.8
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 48,422 48,130 292 0.6

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This table shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Corporation Tax has cumulatively over-performed thus far, while Excise Duties are behind expectations. PRSI receipts continue to exceed expectations.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-August 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 32,422 32,523 -101 -0.3
↳ Income Tax 13,051 13,072 -21 -0.2
VAT 9,382 9,463 -81 -0.9
↳ Corporation Tax 4,366 4,090 276 6.7
↳ Excise Duty 3,475 3,724 -249 -6.7
↳ Other Taxes 2,148 2,174 -26 -1.2
PRSI Receipts 6,798 6,673 125 1.9
Other Revenue 3,046 2,768 278 10.0
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 42,266 41,964 302 0.7

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Corporation Tax has cumulatively over-performed thus far, while Excise Duties and—to a lesser extent—Income Tax and VAT are behind expectations. PRSI receipts continue to exceed expectations.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-July 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 29,690 29,515 175 0.6
↳ Income Tax 11,447 11,434 13 0.1
VAT 9,187 9,176 11 0.1
↳ Corporation Tax 4,183 3,805 378 9.9
↳ Excise Duty 2,997 3,199 -202 -6.3
↳ Other Taxes 1,876 1,901 -25 -1.3
PRSI Receipts 6,005 5,893 112 1.9
Other Revenue 2,705 2,516 189 7.5
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 38,400 37,924 476 1.3

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Income Tax, VAT and Corporation Tax have cumulatively over-performed thus far, whilst Excise Duties are behind expectations. PRSI receipts continue to exceed expectations.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-June 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 24,939 24,774 165 0.7
↳ Income Tax 9,743 9,651 92 1.0
VAT 7,101 7,170 -69 -1.0
↳ Corporation Tax 4,033 3,698 335 9.1
↳ Excise Duty 2,471 2,659 -188 -7.1
↳ Other Taxes 1,591 1,596 -5 -0.3
PRSI Receipts 5,124 4,983 141 2.8
Other Revenue 2,468 2,292 176 7.7
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 32,531 32,049 482 1.5

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
This graph shows the cumulative performance of different revenue items of the Exchequer accounts. Of the main Exchequer tax heads, Income Tax and Corporation Tax have overperformed thus far, whilst VAT and Excise Duties are behind expectations.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-May 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 20,544 20,466 78 0.4
↳ Income Tax 8,090 8,109 -19 -0.2
VAT 6,916 7,021 -105 -1.5
↳ Corporation Tax 2,081 1,834 247 13.5
↳ Excise Duty 2,075 2,143 -68 -3.2
↳ Other Taxes 1,382 1,359 23 1.7
PRSI Receipts 4,304 4,230 74 1.7
Other Revenue 2,092 1,931 161 8.3
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 26,940 26,627 313 1.2

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
The graph shows that in end-May 2018 tax revenue and PRSI receipts have cumulatively over-performed by €152 million. While corporation tax and PRSI have been the larger contributors to this over-performance, VAT, Excise Duties and Income Tax have been cumulatively below profile.
*Source: Department of Finance; and internal Fiscal Council calculations.

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Exchequer Returns: End-April 2018 performance

€ million (cumulative), unless stated

Outturn Forecast Difference Difference (%)
Exchequer Tax 14,738 14,938 -200 -1.3
↳ Income Tax 6,536 6,609 -73 -1.1
VAT 4,844 4,876 -32 -0.7
↳ Corporation Tax 618 637 -19 -3.0
↳ Excise Duty 1,661 1,717 -56 -3.3
↳ Other Taxes 1,079 1,099 -20 -1.8
PRSI Receipts 3,488 3,433 55 1.6
Other Revenue 1,124 1,171 -47 -4.0
Total (= Exchequer Tax + PRSI Receipts + Other Revenue) 19,350 19,542 -192 -1.0

*Source: Department of Finance; and internal Fiscal Council calculations.
*Note: Other Taxes include Stamps, Capital Taxes, Motor Tax and Other Unallocated Tax Receipts. Other Revenue includes the National Training Fund, Other A-in-As, Non-Tax Revenue, and Capital Resources. PRSI and National Training Funds include their corresponding excess as indicated in the memo items.

Tax Revenue and PRSI Cumulative Performance
€ million
The graph shows the cumulative performance of Exchequer tax revenue and PRSI receipts to end-April 2018. It shows that, in April, the main tax heads have yielded receipts that were lower than previously forecast, whereas PRSI revenue is ahead of expectations.
*Source: Department of Finance; and internal Fiscal Council calculations.

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