Government spending is up by just under 6 per cent for the first four months of this year compared to the same period in 2003, some €583 million under budget.
Excise receipts, Capital Gains Tax (CGT), and income tax are running significantly ahead of 2003 and at more than twice the rate expected for this year. In total, the Exchequer took in €514 million more than expected in the first four months.
The Exchequer figures released this afternoon by the Department of Finance show spending of €9.7 billion to the end of April, compared to just under €9.2 billion to April last year.
The Exchequer deficit has fallen by nearly 23 per cent in the same period from €1.73 billion to €1.34 billion. Government borrowing is down by some 21 per cent on the same period last year.
The State's finances are also boosted by excise duties, which are up by almost 12 per cent. Total tax receipts are up by 16.7 per cent to €9.88 billion.
Labour's finance spokeswoman, Ms Joan Burton said the returns display yet again "how inaccurate and error-prone" the Minister for Finance is in his Budget forecasts and in his management of the public finances.
"There is no virtue in having a healthier financial position for the time of the year if it is achieved by a lethal cocktail of damaging cuts in social services, a slowdown in the delivery of important infrastructural developments, and the shameless imposition of additional taxation on PAYE workers who must pay an
excessive share of tax at the higher rate due to the Minister's refusal on Budget day to index the 20% band," she said.
Ms Burton said the minister should be apologising to the Irish people for the "quite outrageous wasteful excesses recently exposed", including the €50 million spent on electronic voting.
"The Minister has to decide if he has national or purely party responsibilities. His reputation is already in tatters from the Punchestown and e voting double whammy not to mention his enforced U turn on the widows benefits.
"The state of the public finances is good but the policies the Government are following are harmful in the extreme and damaging to the long term interests of our country."
