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A delegation from the European Union and the International Monetary Fund (IMF) is back in Ireland today to inspect the State’s finances.

The visit comes as new figures published yesterday show that the gap between tax revenues and Government spending soared in the first three months of the year.

The 10-day mission also coincides with a diplomatic charm offensive by Tánaiste and Minister for Foreign Affairs Eamon Gilmore to promote Ireland’s case for cheaper bailout loans.

The rounds of talks will start this week with a series of meetings between Mr Gilmore and EU ambassadors.

Elsewhere, Minister for Finance Michael Noonan is to meet his EU counterparts in Hungary later this week to brief them on plans to inject another €24 billion into failing banks and shrink the sector from six lenders to two so-called pillar banks.