Cowen to have almost €6bn surplus ahead of Budget

THE latest monthly Exchequer figures give further evidence of the massive resources that Finance Minister Brian Cowen will have at his disposal when framing his third Budget tomorrow.

The Exchequer Statement until the end of November shows a huge surplus of almost €6 billion in the first 11 months of the year — almost €9bn better than the €2.9bn deficit that was forecast in last year’s Budget.

However, as December is traditionally one of the biggest months for government spending — on both the current and capital sides — the overall surplus for the year is expected to be more modest than that.