Sunday 22 October 2017

On the right road but it's a long journey

The first-half Exchequer returns, which were published yesterday, show that the Government is broadly on track to meet its 2012 budgetary targets.

However, even when the costs of recapitalising the banks are excluded the Government still borrowed almost €8bn more than it raised in taxes during the first six months of this year.

The total tax take for the six months to the end of June was just over €17bn. Not alone was this up 11.4pc on the same period last year it was also 3.1pc ahead of the budget day target.

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