Govt: We will meet EU/IMF targets despite missed tax target

The Government has said it expects to meet its deficit target under the EU-IMF bailout this year, despite missing its target for tax revenue.

A government White Paper released today shows Ireland's 2011 budget deficit will be 10.1%, against a target of 10.3% percent agreed with lenders from the International Monetary Fund and European Commission.

With just days to go until the Budget, the Government revealed that exchequer returns for November showed tax revenues are projected reach €34.2bn for 2011, more than €500m below the target of €34.9bn.

The overall Irish deficit now stands at morethan €21bn.