Govt records Exchequer surplus of €1.6bn for January

The Government recorded a surplus of more than €1.6bn for the month of January.

That is up €23m on the same month last year.

The Government said the rise is driven by an increase in tax revenues, and somewhat offset by increases in both current and capital voted expenditure.

Tax receipts grew by €537m, or 10%, in the same period while spending increased by €360m, or 8.5%.

There was a 6.6% increase in current spending and a 43.8% increase in capital spending.