Minister welcomes positive growth estimates but warns tax receipts will fall

Finance Minister Paschal Donohoe has upgraded his growth and budget surplus forecasts for this year but has warned that Corporation Tax receipts are set to fall by up to €2bn.

Speaking after a special Cabinet meeting in Marino, Dublin, Mr Donohoe said he and his officials now estimate the economy will grow by 3.9% this year, and averaging 3% per year until 2025.