Buoyant economy - Big surprise if Cowen plays Santa

FINANCE Minister Brian Cowen is ideally placed to play Santa Claus with a giveaway Budget next Wednesday following yesterday’s White Paper showing the economy is burgeoning.

The Celtic Tiger is striding vigorously across the land again and the Exchequer coffers are so flush with money that the deficit for the year will be in the order of only €203 million. That figure contrasts sharply with the Government’s original projection of a €2.8 billion deficit in 2004.

Totalling €35 billion, tax receipts are running much heavier than expected. By the end of the year, the Government’s finances could well be in surplus.