Gov deficit under target days before Budget

Gov deficit under target days before Budget

It looks like the Finance Minister will have more money to play with in next year's budget.

The Department of Finance has published new figures today showing the Government's deficit is well below the projected target.

The Department of Finance's white paper reveals that if no new measures are introduced in the budget, overspending will fall to 2.4% next year - beating the EU's deficit target of 3%.

This means the Finance Minister will have up to €900m to play with as he prepares to announce Budget 2015 this Tuesday.

Elsewhere, the figures show that the State will still be spending more than it earns next year, with receipts totalling €47bn and expenditure at over €52 bn - putting the exchequer deficit at over €5bn.

But officials forecast that revenue from income tax will be up €1.3 bn, as more people go back to work, but stamp duty will fall as the pension levy is lowered.


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