Budget forecast set to be on target

CHARLIE McCREEVY’S budget forecasts look likely to come in on target, despite figures from the Department of Finance last night showing a budget deficit of €2.1 billion for the first 10 months of the year.

Exchequer returns for October, which, although showing an increase in the total tax revenue, recorded a deficit of €2.16bn, up from €1.8bn at the end of September. At this stage last year, the public finances were €439 million in the red.

Mr McCreevy had forecast that by year end there would be a tax shortfall of €500m.