Exchequer boost - Cash-starved services must benefit

THERE is a nice irony in the fact that one-time tax cheats are contributing handsomely, albeit reluctantly, to the Irish economy.

Swelling the State coffers, the full impact of their contribution was seen in yesterday’s Exchequer figures which show a surplus of €130 million in the first half of this year compared to a €344m deficit for the same period last year.

The better than expected returns are due mainly to an extra €580m recovered in the relentless probe by the Revenue Commissioners into offshore assets and bogus non-resident accounts plus higher receipts from Capital Gains Tax, up a massive 226% to €497m.