Budget surplus likely as corporation tax take hits record €9.4bn

Watchdog to issue spending warning after €2.7bn business tax take in November

The Government is on course to run a budget surplus this year for the first time in over a decade. Photograph: Getty Images

The Government is on course to run a budget surplus this year for the first time in over a decade. Photograph: Getty Images

The Government is on course to run a budget surplus this year for the first time in over a decade following a near record €2.7 billion corporation tax take in November.

Exchequer returns for the first 11 months of the year show the business tax generated half a billion euro more than expected last month and has now taken in a record €9.4 billion so far this year, 20 per cent ahead of the Government’s target. The total for 11 months is also ahead of last year’s record €8.2 billion haul.

Please subscribe or sign in to continue reading.
only €1 first month

Insightful opinion is just a away.