Vat spending haul to help Government fund Covid stimulus pledges

Minister for Finance Paschal Donohoe TD at the Department of Finance. The exchequer collected over €7.5bn in tax revenues in the month of May,  which was ahead of the department's own targets. Picture: Gareth Chaney/Collins

The Government looks set to comfortably fund the billions it says it will inject into the economy under its Covid stimulus package, as three of its four main sources of tax revenue rose sharply in May.  

The latest exchequer figures again reflected the remarkable recovery for Ireland from the global health crisis as tax revenues boomed even before major parts of the consumer economy such as hospitality have fully reopened.