Exchequer figures show rise in tax yields and growing deficit

IRELAND’S deficit was over €7 billion worse mainly due to bank expenditure while there was also a fall-off in consumer spending.

But tax yields are up mainly due to the roll out of the jobs initiative pension levy which was introduced to help boost employment.

With the publication yesterday of the third quarter exchequer figures, there were suggestions that the economy was getting back on track but department officials were still cautious.