Department of Finance reveals 3% tax revenue rise

The Department of Finance revealed today that tax revenues last month were up 3% compared to a year ago.

But Exchequer figures published this evening also show the Department of Social Protection continues to increase its spending.

Overall taxes in January were up €109m year-on-year.

Income tax did well and was up 10%, which the Department said was because the labour market improved late last year.

Stamp duty showed a 400% increase, but that was due to a delay in reporting health insurance products from last year.

Spending during the first month of the year increased also - with Social Protection increasing its spend by 18% or €178.82m on last year.

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