Exchequer to enjoy unexpected €3bn bounty

A huge flow of corporation tax receipts has swelled exchequer finances, meaning the Government is likely to have €3bn more in its coffers at the end of this year than it expected just a year ago.

Exchequer figures for the first 10 months of the year published yesterday also showed that the Coalition has just over eight weeks to deliver on a €1.5bn extra spending splurge it has signalled for this year.

Analysts say that departments will now be working against the clock to have the additional monies spent by the end of the year.