Exchequer surplus down for January

Figures published by the Department of Finance show the total tax in the first month of this year running 6 per cent below January…

Figures published by the Department of Finance show the total tax in the first month of this year running 6 per cent below January of last year.

The Exchequer Statement showed the amount of money spent on the day to day running of Government departments was running 22 per cent below January last year.

A surplus of €382 million was recorded in January, but that was more than three times lower that the figure for the same period in 2001, which came to more than €1.2 billion.

One of the biggest reverses was in the amount gained from income tax, which went down by 5 per cent, even though over the 12 months the number of people in work increased and wages grew in most sectors of the economy.

READ MORE

There was also little evidence of a big spending spree ahead of the start-of-the-year introduction in Ireland of the euro, despite reports to the contrary in the days between Christmas and the New Year from retailers in central Dublin.

And a rise of only 2 per cent in Value Added Tax - a figure lower than average inflation rate in the past 12 months - also suggested that per-capita spending by consumers was well down in comparison with the same period last year.

PA