Christmas cheer: €1.8bn surplus boost for Cowen

BEFORE the ink is dry on Budget 2005, the financial position of the government got a major boost yesterday when exchequer figures to end November showed a surplus of €1.8 billion.

The government initially said it would have to borrow €2.8 billion this year to make ends meet. That figure had been revised down dramatically due to a healthier economy.

On Wednesday, new Finance Minister Brian Cowen said he would need to borrow just €200m.