Record tax take slashes State deficit in the second quarter

Drop in Covid spending following the closure of the Pandemic Unemployment Payment and Employment Wage Subsidy Scheme (EWSS)

Expenditure in the second quarter included €2.7bn for the mica redress scheme.

A €2.7bn increase in tax revenues in the second quarter helped the Government reduce the State's deficit to €1.4bn, down from €2.3bn last year.

Between April and the end of June, The state took in €27bn. Expenditure was up €2.5bn on the same quarter in 2021 reflecting a large increase in investment grants, which have increased by €2.7bn. This was offset by reduced expenditure on social benefit payments and subsidies.