Figures confirm €2bn shortfall in taxes
New figures have confirmed a €2bn shortfall in taxes coming into Government.
The Department of Finance Exchequer returns for October show plummeting taxes and confirm the shortfall as was signalled a month ago.
These figures show that Brian Lenihan will have to borrow more than €26bn to balance the books at the end of the year.
Taxes have dropped by 17% in just 12 months - with the biggest fall-offs in VAT and income tax.
The figures show that since the emergency budget last April, the situation has worsened and the corrections haven't worked.
The deficit now is double what it was a year ago.
This evening the Taoiseach told the Dáil the situation just cannot continue.
Brian Cowen said that people who feel they have paid up already, are still going to be asked for more.
Earlier, the Finance Minister Brian Lenihan revealed that for the first time since the recession began Live Register figures, due to be published this week, will show no increase in unemployment last month.
