Exchequer returns surge by over 9% to €14bn

Buoyant exchequer returns published yesterday will give any new minority government significant fiscal headroom, but there may be clouds on the horizon, analysts have said.

The tax figures, which cover the first four months of the year, show the exchequer continues to take in more in taxes than it anticipated just six months ago.

Tax revenues surged by more than €1.1bn, up over 9% from a year earlier, to reach over €14bn at the end of April. Despite the health budget again going into the red, spending by all other government departments was under control.