Thursday 16 August 2018

State collected a record €20.5bn in taxes in the fist half of this year

The State collected a record €20.5bn in taxes in the first half of this year
Photo: Stock Image
The State collected a record €20.5bn in taxes in the first half of this year Photo: Stock Image

Donal O’Donovan

The State collected a record €20.5bn in taxes in the first half of the year, but an increase in spending meant an Exchequer deficit of €24m for the six months to the end of May.

The deficit compared to a surplus of €383m in the same period last year, the decrease in the Exchequer balance was primarily due to higher spending.

Overall, total net voted expenditure to the end of May was €19.336bn, below profile but up €1.5bn compared to the same period last year.

Non-voted expenditure was €4.554bn, up year-on-year by 7.6pc or €320m, including higher EU contributions.

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