Tax receipts for the first 11 months of the year are running 0.5% below expectations.

The latest Exchequer returns show that tax revenues at the end of November stood at €33.8bn.

That is €2bn (6.2%) ahead of the figure at this time last year, but €171m less than expected.

Income tax is now €231m (1.6%) behind expectation at the end of November after a €300m shortfall in the month, due mainly to lower than expected income tax returns from the self-employed.

VAT continues to perform well and following a €74m surplus in November, the figure is now €180m (1.8%) ahead of target.

Corporation tax receipts are marginally behind target, at €21m (0.5%) below expectations.

Receipts in November, the biggest month of the year in terms of collection, were €46m below target.

Excise duties, the last of the big four sources of revenue, are running at €179m behind expectations.

Social Protection and Health both recorded overspends of €614m and €366m respectively, continuing a trend for the year.

Exchequer debt servicing costs, at just under €6.5bn at the end of November, are up almost €1.8bn year-on-year.

The Exchequer deficit at the end of the month is €13bn compared to €21.4bn in the same period last year.

The main driver behind the large decrease is lower non-voted capital expenditure.

That was principally due to the settlement of the 2012 IBRC Promissory Note payment with a Government bond and the fact that the July 2011 banking recapitalisation payments were not repeated in 2012.

Tomorrow, Minister for Finance Michael Noonan and Minister for Public Expenditure & Reform Brendan Howlin will announce €3.5bn of cuts and tax increases during their Budget 2013 speeches.

Hopes of Ireland benefiting from the deal reached on Greece's long-term debt were dashed yesterday, when both France and Germany ruled out similar relief to ease Ireland's national debt.

Mr Noonan had said the Government would be interested in looking at elements of the Greek deal to see if they would help Ireland.

Fianna Fáil Finance Spokesperson Michael McGrath has said the Government should be availing of improved terms to ease Ireland's national debt following the Greek deal.