‘Strong and robust’ tax receipts boost Government

The Government yesterday received encouraging fiscal news as exchequer returns showed a “strong and robust” flow of tax receipts in May and on-budget spending for all but one department.

The exchequer figures for the first five months of the year continue to show it takes in much more in taxes than anticipated when Finance Minister Michael Noonan delivered his budget late last year.

Tax receipts surged to €18.83bn, up €1.55bn, or 9%, in the year, as the exchequer took in €774m, or 4.3%, more in revenues than it anticipated for the first five months to the end of May.