Exchequer returns show tax receipts are 12.5% higher than a year ago

EXCHEQUER returns for October show tax receipts are 12.5%, or €3.6 billion, higher than last year, according to the Department of Finance.

Tax receipts so far this year stand at just over €33bn, around €2bn ahead of forecasts. Non-tax revenue and other capital receipts were also up.

At the end of October, the Exchequer had a deficit of €345.5m against a €1.29bn deficit at this stage last year. The positive trend means the Government could have a budget surplus this year instead of a projected €2.9bn deficit which it had predicted.