Friday 28 October 2016

Exchequer half a billion euro ahead of target for first three months

Published 02/04/2015 | 16:46

Michael Noonan
Michael Noonan

The tax take for the year to date is more than half a billion euro ahead of target, the latest Exchequer Returns show.

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The tax take at the end of March was €10.47bn, 5.5pc better than expected, or €545m.

All the main tax heads came in better than targeted, confirming economic indicators that show rising employment and strong domestic demand. It will also fuel expectations that the Government will be able to unveil a soft pre-election Budget in October.

Finance Minister Michael Noonan and Public Expenditure and Reform Minister Brendan Howlin said all four tax heads show significant year on year growth.

"Tax revenues continue to grow while prudent expenditure policy remains evident," they said.

"The continuing improvement in the Exchequer position leaves us on course to achieve the fiscal target for the year."

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