Exchequer figures show tax take for first quarter fell €266m short

THE Exchequer returns for the first quarter of 2010 show the Government’s projected tax target was out by €266 million or 3.5% for the period.

Tax revenues for the three months at €7.25 billion were 15% down year on year.

The figures also reflect the downturn in the economy, which the Department of Finance expects to decline by 1.25% in GDP terms this year, having fallen by over 7% in 2009.