‘Healthy’ tax receipts as GDP to surge

An incoming government can expect a “healthy” rise in tax revenues this year, as the economy extends a remarkable growth spurt of 6%, said Conall Mac Coille, chief economist at Davy Stockbrokers.

Detailing Davy’s new economic and fiscal forecasts, Mr Mac Coille said that after the long years of recession and austerity following the banking and property crisis, that the economy was “playing catch up” and was so far seeing off a number of economic threats from overseas.

Its projections, however, depend on Britain voting in its looming referendum, on June 23, to stay in the EU.