January tax haul of 7.3% will comfort next government

A bounce of 7.3% in tax receipts in the first month of the year indicates the exchequer’s coffers will continue to fill early this year at least — providing comfort to whichever party or combination of parties form the next administration after the elections.

The Government took in almost €4.5bn in tax in January — before non-tax receipts are taken into account — which was up from the almost €4.19bn tax haul it collected in the same month in 2015.

There are fears, though, that uncertainty about the world economy — reflected in the sharp fall for stock markets amid concerns about China and debt in commodity producing nations — could indicate tough times ahead.