No fiscal panic yet, but figures highlight tax uncertainty and spending weaknesses

The weak revenue performance relative to Budget 2018 projections has now spread to all four key tax heads, including income tax, VAT, corporation tax and excise duties

3rd May, 2018
Finance Minister Paschal Donohoe. Pic:

Published a month ago, Exchequer returns for the first quarter of 2018 were both a blessing and a curse, with key tax shortfalls and some expenditure overruns causing a few cracks to appear in the Government’s fiscal façade.

Worse, yet: income tax receipts were trailing the projections by around 1.7 per cent. The miss was largely accounted for by sluggish self-employment filings. This outrun can signal a drop in activity at the...

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