Recovery continues as tax take €1.4bn ahead of target

The Government remains on course to significantly beat its annual tax target for 2015 with data showing tax revenue in the year to date is almost €1.4bn ahead of forecast.

Latest exchequer returns, published yesterday by the Department of Finance, show tax receipts up to the end of August amounted to €27.34bn, up 10% and 5.4% ahead of expectations.

This has lead some commentators to forecast that the general budget deficit could shrink to 2% of GDP by year’s end.