Small tax cuts on the cards

Government revenues have survived the fallout of the UK’s referendum to quit the EU but Finance Minister Paschal Donohoe still only has room for small tax cuts in his budget next month, experts have said.

Exchequer figures for August showed the amount the Government collected in income taxes and excise duties again fell below target

However, the exchequer still generated almost €30.5bn from all tax receipts in the first eight months of the year, missing its target by a small amount. And a tax expert said the tax figures should pave the way for small cuts in income taxes for middle earners.