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Wed 03 Mar 2010Tax revenues for year to date down over €1bn on 2009
TAX REVENUES collected by the Government in the first two months of 2010 have fallen more than €1 billion behind the same period in 2009, it emerged yesterday, as the State’s largest bank, Allied Irish Banks (AIB), refused to rule out seeking further Government cash injections.
The latest exchequer figures from the Department of Finance show that Ireland’s budget deficit worsened to €2.4 billion at the end of February. A further drain on the public finances is expected following an admission by AIB managing director Colm Doherty the bank may have to turn to the State for financial support if it cannot raise sufficient cash selling businesses or from investors.
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