Figures from the Department of Finance show that there was an Exchequer surplus of €1.69 billion in January.

Total tax receipts were nearly €4.75 billion, in line with €4.69 billion projections published by the Department of Finance.

Spending was €65m ahead of expectations at €3.65 billion.

Income tax receipts were slightly behind expectations at €1.107 billion. The Government had expected to take in  €1.27 billion.

Corporation tax was 207m in the month, which was ahead of the €154m expected.

The property market was strong in the month, with Capital Gains Tax coming in ahead of expectations at €186m, around €26m more than expected.

Also stamp duty was €346m, around €33m ahead of the Department's expectations.

VAT brought in €2.38 billion, slightly ahead of expectations.