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Figures reveal €1.7bn public finance deficit

Figures from the Department of Finance show the public finances to be over €1.7 billion in deficit, at the end of April.

This compares to a deficit of nearly €113 million recorded at the same time last year.

The Department of Finance has said it is still on target. The Budget forecast a deficit of €1.9 billion this year.

Overall, tax receipts were down 2%, compared to Government forecasts; income tax receipts were down 4.4%, compared to the target level.

However, stamp duty receipts were up 30%, reflecting a still-buoyant housing market and the increases in duty on bank cards.