Govt sees €415m rise in tax take

The tax take for the first three months of the year is almost 5% ahead of the same time last year.

The Exchequer figures for the first quarter show €9.2bn was collected.

The Budget deficit at the end of March stood at just over €2.3bn, €1.4bn lower than the same time in 2013.

The Department of Finance says there has been a solid start to the year.

The €9.2bn figure is almost 3% ahead of projections and 4.7% or €415m more than tax revenue during the first quarter of 2013.

Income Tax is up by 3.5%, VAT increased by 6.4% year-on-year, driven by strong retail sales, and excise duties are up 11.5%.

Public spending is down by just under 6% or €631m at €10.2bn.

However, spending in the Department of Health is already 1.5% over budget after the first three months of the year.

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