Davy predicts €1bn budget giveaway

CHARLIE McCreevy may have around €1 billion to give away to taxpayers on budget day because of the improving economic climate.

New research from Davy Stockbrokers says the public finances have been in their best shape for some years and this is bringing in better than expected tax revenues.

Though a deficit of nearly €2.7bn was predicted by Finance Minister Charlie McCreevy last December, the Exchequer is currently in surplus and tax receipts are well ahead of forecast.