Tax slump puts added pressure on economy

A SLUMP in tax revenues and inflation at more than double the eurozone average have combined to threaten the country’s economic future.

New figures released last night showed the tax take for January was 10% below Government forecasts as the trend which wrecked the national finances over the past two years continued.

The tax take was 10% down on January of last year and 15% down on returns in January 2001. The reduction showed in customs and excise duties and capital and company taxes.