Tax take rises as S&P backs recovery

The Government’s tax take for November was more than 2% or €177m ahead of target, largely driven by another strong month for corporation tax. It is the most important month of the year for tax receipts.

The figures also mean the Government remains on track to meet its budget deficit targets.

“Total revenues are now €777m above expectations while spending discipline is also being maintained, at €784m below profile,” said David McNamara of Davy Stockbrokers.