Public finances on track for 4.8% deficit
The latest Exchequer figures for the end of March show the deficit was €2.3bn, which is a €1.4bn improvement on last year. Tax revenue was up 4.7% compared with the same period in 2013 whereas net voted expenditure was down 6.1%.
“The Exchequer returns for the first quarter of 2014 represent a solid start to the year. In line with the improvement in the domestic economy, the reduction in the live register and the increase in employment levels, tax revenues are growing and expenditure on public services is within budget,” said Finance Minister Michael Noonan in a statement.
