Exchequer surplus drops
Ireland's exchequer surplus for the seven months to July of this year dropped to €1.78bn compared with €3.79bn for the same time frame last year, according to figures released by the Department of Finance today.
Figures also show Government spending at €17.3bn for the period, up over 20% on 2001’s figure of €14.8bn and ahead of Government targets.
This was similar to the rate of increase for June, although recent cuts in expenditure have not been reflected in the figures.
Government income was €19bn for the period, up from €18.6bn last year.
Despite predictions of a fall in tax receipts, revenue from taxes increased to €17bn from €16.9bn last year due to large corporation tax payments in July.
Income tax receipts are down 11.6% compared with 2001.
The Government contributed €639m to the EU budget during the period.
Election expenses for the period rose from €5.49m to €14.95m.
