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Tax shortfall spells big trouble for the government

8th August, 2009

Few chief executives of publicly-quoted companies could have survived issuing a trading statement like the one released by the Irish government last week.

The exchequer figures for July showed that the appalling gap between the government’s revenues and its spending is continuing to deteriorate. Based on current trends, the government will struggle to take in more than €30 billion in taxes this year - but its total spending will approach €60 billion. Minister for Finance...

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