Exchequer expectations show wide variation

THE reports out today on the economy from Friends First economist Jim Power and the Central Bank take a different view on the health of the exchequer returns.

The bank believes the deficit will be broadly in line with the €546 million projected in the budget. In other words the government will have to borrow just that amount to fund its activities for the year.

However, Mr Power said the figure could be three times that at €1.5 billion, while earlier in the week Davy Stockbrokers warned that the Government’s tax revenues could be out by at least €1bn, putting it in the same camp as Mr Power.