No room for budget largesse in tax revenues

Income tax receipts have continued to bring in less than anticipated for the exchequer, while corporate tax revenues have outperformed again, presenting a mixed bag for Finance Minister Michael Noonan ahead of his budget next week.

September’s tax and spend figures were published on a day the Department of Finance cut its growth forecasts for the economy this year to 4.2% from the 4.9% expansion it had projected in the summer.

It forecasts GDP will rise 3.5% in 2017, down from the 3.9% growth it had projected previously.