Government to wield axe after €8bn tax shortfall

There was an €8 billion shortfall in the tax take last year, forcing the government to seek major cuts in public spending in 2009.

3rd January, 2009

There was an €8 billion shortfall in the tax take last year, forcing the government to seek major cuts in public spending in 2009. New figures, to be published tomorrow, will show that the tax shortfall was more than €1.5 billion worse than predicted by the government at the time of the budget last October. T his now seriously undermines the budget calculations for this year.

At its first meeting of the new year on Wednesday,...

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