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Wed 01 Jan 2010National debt €12bn higher as tax take sinks by 19%
THE PUBLIC finances deteriorated sharply last year, with Ireland’s exchequer balance worsening by almost €12 billion, new figures from the Department of Finance show.
An unprecedented €7.7 billion decline in tax revenue – down 19 per cent on the year before – and a €4 billion payment to Anglo Irish Bank were the main reasons for the €11.9 billion year-on-year deterioration in the exchequer balance.
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