Saturday 19 January 2019

Spending on the rise

GOVERNMENT'S day-to-day spending rose slightly in January as total tax receipts increased by 1.9pc.

The Department of Finance said the increase was "due primarily to the reclassification of health levy receipts which increases net voted current expenditure".

However, the figures suggest that overall, the economy is stabilising.

Tax receipts rose by €57m within the month as VAT revenue increased by 3.6pc but income tax receipts fell by 6.5pc year-on-year.

Excise duties, usually one of the largest revenue flows for the Government, rose by over 8pc year on year.

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