Tax scare in May over tax revenues no bar to Minister Donohoe setting 'generous' pre-election budget

Paschal Donohoe has nothing in his way to set “a generous” tax package in a possible pre-election budget in October despite the finance minister receiving a scare over disappointing corporate tax revenues last month, a leading economist has said.

Conall Mac Coille, chief economist at Davy, said there was concern over the amount the exchequer had taken in from taxing company profits in May but that at this stage there was no panic that the normal robust performance of corporation taxes would reassert later in the year.