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Six One News: David Murphy, Business Correspondent, reports on the latest figures, the ECB rate cut & the stockbrokers' call for new benchmarking
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Six One News: George Lee, Economics Editor, says we have a clearer picture of where the economy is weakest
Figures released by the Department of Finance this evening show that tax revenue is down by €2.6bn, or 23%, and spending is up by €680m, or 6% above last year.
In a statement, the Minister for Finance Brian Lenihan said the figures were further evidence of the weakness of the Irish economy.
He said that while spending has been successfully contained in most areas, the increased numbers out of work have caused social welfare payments to increase by 12% on last year.
