Exchequer shows boom in tax revenue

The latest exchequer figures published today are expected to show that tax revenues boomed in the past year.

It means that the budget deficit is around €852m rather than the €2,988m forecast at the start of last year

Taxes were more than 4% above the anticipated level, with increases in VAT, stamp duty, capital gains tax and excise accounting for most of this.

Finance Minister Brian Cowen has said the exchequer finances are in a sound position because of the Government’s economic strategy.

He will publish the exchequer returns for 2005 at the Department of Finance headquarters on Merrion Street at 4.30pm.