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Wed 08 Aug 2009Exchequer returns show deficit of €16.4 billion
Tax revenues collected by the Government up to the end of July are €575 million lower than the Department of Finance expected a little over three months ago, putting pressure on the Government’s tax targets for 2009.
The shortfall in tax receipts has trebled over the last month, according to figures published by the Department today. If this trend continues, the Government will be unable to meet its projection of €34.4 billion in tax revenues this year.
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