Exchequer Returns News Today

Government spending increased sharply in the first four months of the year, running ahead of the growing tax take and on course to smash through previous records.

Donohoe said he hopes to keep his Cabinet brief, “but that’s a matter for the new Taoiseach”.

The Minister for Finance said tax receipts may fall as the OECD global tax deal takes effect

It is the second consecutive month in which corporate tax declined year-on-year.

Corporation tax receipts were down €1bn in August, compared to last year, a higher-than-expected dip of 36pc that has contributed to a slight budget deficit.

A total of €77.5 billion has been collected by the Exchequer so far in 2022.

This is up €12 billion on the same period last year, according to the Department of Finance.

A total of €179.4 million has been paid out by semi-state companies to the Exchequer so far this year.

Irish-based multinationals dominated by pharma and the tech giants appear to have faltered

The public finances have improved by €10.7 billion since the end of July last year.