Exchequer figures for the end of January from the Department of Finance reveal that the shortfall of income tax receipts - which caused a sharp deterioration in our public finances last year and the year before - is continuing into 2003.
The figures reveal that the amount of income tax collected on behalf of the Government last month was 10% lower than in January last year and 15% below the amount collected in January 2001.
Today's figures also reveal that receipts from customs, excise duties, capital taxes, and corporation taxes were all lower than expected during January.
However, receipts from Value Added Tax soared by 30% compared with January last year. This was a result of a combination of two VAT increases over the past 12 months as well as strong retail sales over the Christmas period.
The amount of tax collected in the form of stamp duties was also up strongly - reflecting continued buoyancy in the property market.
Meanwhile, spending by Government Departments in January was up by 33% compared with January last year although this increase was below the amount that had been penciled in by the Department of Finance in the Budget for January.
The Exchequer Returns show the Government ended the month with a surplus of €284 million, €100 million lower than the surplus for January last year.
