Exchequer records €640m deficit as spending increases

THE Exchequer recorded a deficit of nearly €640 million in April as tax revenues just beat Government forecasts.

In what will be a major headache to political parties’ spending plans, the Exchequer deficit at the end of April compared to a surplus of €406.9m at this stage last year.

The deficit came as spending by the main Government departments shot up in advance of the election.