Exchequer windfall of €484m

EXCHEQUER figures for January show the Government has a €484 million surplus despite spending on health rocketing by 52%, over January 2004, to €1.15 billion.

Figures released by the Department of Finance show Exchequer figures for the first month of 2005 are well ahead of target with an overall budget surplus of €484m, compared with a surplus of €419m in January last year.

Total tax receipts were almost €3.5bn, almost €80m ahead of the department's projections. Income tax receipts were below target at €845m, while VAT receipts were also lower than projected.