Budget surplus of 0.4% is likely due to higher than expected corporation taxes

A surplus in the public finances of €1.4bn or 0.4% is now likely at the end of the year because of higher than expected corporation taxes, Finance Minister Paschal Donohoe has said.

This is compared to the 0.2% surplus predicted on Budget day in October. Delivering a keynote address at the Institute of International and European Affairs in Dublin, Mr Donohoe said this surplus is virtually double what was expected two months ago.