Public finances in better than expected shape

Latest figures released by the Government have indicated that the public finances are in better shape than had been expected.

The 2003 estimates of receipts, just released, show that the Government took in €33bn and paid out €33.2bn.

The improved finances going towards the budget next Wednesday have been brought about by an increase in corporation and income tax returns during the last month.

The state also saved €2m in payments on servicing the National Debt.

Nevertheless economists are predicting a tough budget next week. Labour's spokeswoman on Finance, Joan Burton, says the figures are actually an illustration of the failure of Charlie McCreevy to control the economy.

Meanwhile the Green Party said that the figures show time is running out for Charlie McCreevy as Finance Minister.

Dan Boyle said McCreevy has been a lucky Minister whose luck is finally out.

"He's finding it more difficult to get away with the bluff and swagger that he has over the previous five budgets and now we can see the real Charlie McCreevy in this budget," he said.