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Fri 07 Jul 2009Government borrowing hits €14.7bn as tax intake weakens
GOVERNMENT BORROWING for day-to-day spending has swelled to €14.7 billion, boosted by an outflow of €6 billion in payments to bail out the banks and continued weakness in tax revenues.
The latest exchequer figures, published yesterday, show that tax receipts for the first six months of the year were down 17.3 per cent, or €3.3 billion, compared to the same period last year.
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