Coalition ministers yesterday hailed a bounty of taxes, saying that the economic recovery has been secured and reiterated plans for an expansionary pre-budget budget.

Our bad, heads-in-the-sand habit of believing that by just enacting legislation we have resolved the difficulties that made the legislation necessary in the first place, has the potential to trip us up one more time.

The tax take for last year was up 7.7% compared to 2011, Exchequer figures have revealed today.

The Government is better off to the tune of more than half a billion euro mid-way through the tax year, according to Exchequer figures.