Exchequer returns - Too dependent

A PRETTY simple analysis of yesterday’s Exchequer data can only add to the growing feeling many of the election promises are now unaffordable. Income tax and VAT figures did not reach target figures in March but another surge in corporate tax payments brought the overall monthly return ahead of target. New figures also point to health overspending in March.

Two of the central truths of our economy are reiterated — we are very dependent, possibly too dependent, on international corporations and runaway health costs will more than likely consume any increase in taxes gathered.

This should encourage us to support local industries and reform our health service — but we’ve known that for decades but we’re still caught in this cleft stick.