Tax revenue ahead of expectations

Tax revenues came in marginally ahead of expectations while spending was lower than forecast, leaving a deficit of €7.1bn, according to exchequer returns to the end of September.

Tax revenues for the month were up €768m compared with Sept 2012 and total tax revenues for the first nine months of the year reached €26.886m. This is €4m ahead of expectations.

Peter Vale, a partner at consultancy firm Grant Thornton, said: “The last set of data available to the minister in advance of the budget is consistent with what we have seen in the year to date and shows that tax receipts are broadly on target and well ahead of the same period last year.