Exchequer returns for the year to the end of August, released by the Department of Finance this afternoon, show that tax revenues were up 3.8 per cent when compared with the same period last year.
Net voted expenditure was down 5.4 per cent when compared with 2012 and all departments were at or under target for expenditure at the end of the period. The exchequer deficit recorded at the end of August was an improvement of E4 billion on the first eight months of 2012.
For the month of August, the exchequer recorded a deficit of E2.1 billion, bringing the total to E7.3 billion. In July the size of the deficit actually fell, because of the sale of Irish Life for 1.3 billion. Tax revenues were E22.9 million to the end of August, just 0.2 per cent behind target. Income tax was broadly in line with its target while corporation tax was 12 per cent ahead. Excise duties were 4.1 per cent behind target at the end of August, while being up 1.9 per cent year-on-year.