Revenue collects €1.4bn more than expected

Revenue has collected €1.4bn more than expected in taxes so far this year.

New Exchequer figures published this evening show an improvement in the deficit by €3.5bn compared to a year ago.

Revenue collects €1.4bn more than expected

At the end of August, the State was in the red by around €1.3bn - but that is an overall improvement of €3.5bn compared to the same time last year.

The tax take is now at €27.3bn - an increase of nearly 10% compared to a year ago, some €1.4bn more than Michael Noonan predicted in the last Budget.

VAT performed well in a month where it would not normally, 28% ahead of predictions last month.

Corporation Tax is the biggest contributor - €900m more than predicted on Budget day has been collected.

Spending by Government is below what was expected. While Health has overspent by €277m, underspending by Social Protection and Environment totalling almost €300m compensated for it.

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