Exchequer deficit €800m better than level forecast in last budget

A higher year-on-year tax take over the first seven months of the year has resulted in the Exchequer deficit standing at nearly €800m better than the level forecast in last October’s Budget. This strengthens the chances of a significantly more friendly adjustment in two months’ time.

Latest Exchequer Returns, from the Department of Finance, yesterday showed a total tax take of just under €22.4bn for the period up to the end of July.

That marked a €1.35bn, or 6.4%, increase on the corresponding period last year.