Exchequer figures give McCreevy pre-Budget boost

Exchequer figures for the end of November have given the Minister for Finance Mr McCreevy a boost on the eve of Budget 2003.

The figures confirm an improvement in public finances last month of an extra €4 billion in tax receipts - mostly from the self-employed sector in the form of Corporation Tax and VAT. However spending growth was still 17.7 per cent ahead of last year, according to the figures.

The figures show an Exchequer surplus of €1.004 billion in the period from January to November, compared with a deficit of €439.24 million recorded for the period between January and October this year.

The surplus is a major boost to Mr McCreevy on the eve of the toughest Budget in recent years. He is expected to announce rises in taxes on cigarettes, petrol and alcohol as well as modest improvements in tax credits tomorrow and no changes in income tax rates.

Mr McCreevy is due to deliver his Budget speech at 3.45 p.m. tomorrow.