€1.3bn tax take as stock exchange booms

GOVERNMENT coffers will get a €1.3 billion tax boost from the booming stock exchange in 2006 while stockbrokers look set to generate gross profits of up to €600m for the year.

Figures released by the Irish Stock Exchange yesterday show trading on the ISEQ rose 12% for the first nine months of the year to €94.3bn, amounting to €500m worth of share deals each working day.

If trading continues for the rest of the year at those levels then the 18 Irish stockbrokers trading on the exchange will share gross earnings of €600m or more in the current year, while the State will earn double that.