Exchequer reports €1.8bn deficit in February as expenditure rises 

Department said February is not generally a significant month for corporation tax, with it also being a non-Vat-due month

Tanaiste and Finance Minister Simon Harris. Picture date: Wednesday January 21, 2026.

Transfers to the Government's wealth funds and low corporate tax receipts pushed the exchequer into a deficit of €1.8bn in February as tax revenues remained largely flat compared to the same period last year, new figures from the Department of Finance show. 

According to the latest exchequer returns, tax revenue for the month stood at €13.6bn, reflecting a more than 10% fall compared to last year.