Figures released by the Irish Exchequer for the first two months of this year have revealed that tax receipts have, for the most part, followed the depressing trend established last year.
According to reports, the government spent 127 million euros more than it received in the January-February period, and overall, tax revenue is currently running 3.7% behind target.
With income tax, excise duty, capital tax and corporate tax collections all continuing to disappoint this year, it has been left to VAT and stamp duty receipts to buoy up the Exchequer's finances. According to an RTE report published on Wednesday:
'Value added taxes are running 125 million euros or 7.3% above target, while receipts from stamp duties are running 57 million euros or 30% above target for the first two months.'
Labour Finance spokesman, John Bruton was quick to respond to the release of the figures this week, arguing that they represent 'clear evidence' that Finance Minister, Charlie McCreevy has got his economic priorities wrong.
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