Exchequer €2.5bn worse off than expected as tax take hits 2003 levels

THE Government will be €2.5bn worse off at the end of the year than it expected as the tax take falls back to 2003 levels.

Exchequer figures published yesterday showed the tax take for the first 10 months of the year came to just €26.8bn – a 17% fall year on year and €1bn below the target set by Mr Lenihan just last April.

Mr Lenihan said that by year’s end, the tax take was expected to reach just €32bn – compared with the €34.5bn target set in April.