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Wed 09 Sep 2007Department asked about inaccurate forecasting of
tax
Underestimates:The comptroller queried why the Department of Finance underestimated tax revenues in its forecasts for each of the past three years.
Mr Purcell noted that revenues were 9.3 per cent ahead of target in 2006; 4.7 per cent ahead in 2005; and 6.5 per cent ahead in 2004. This followed shortfalls in revenue against the targets for 2001 and 2002.
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