Stay tough on spending, departments warned

FINANCE Minister Charlie McCreevy has once again warned departments not to exceed their budgets even after new figures showed the Government borrowed €900 million less than expected.

Figures from the Department of Finance last night revealed the Exchequer posted a deficit of €980m in 2003. But this was €889m below what the minister forecast in Budget 2003.

The public finances were buoyed by a surge in stamp duty on houses, which was ahead by €520m, and a €815m boost in capital gains tax the bulk of which was down to the strength of the property market.