The latest figures from the Department of Finance show that there was an Exchequer deficit of €7.3 billion for the first four months of this year. This compares with a deficit of €3.7 billion in the same period a year earlier.
Total tax receipts are down almost 24% from a year earlier at just over €10 billion. The Government said earlier this year it was expected a drop of 16% in tax revenue for the whole of 2009.
Total day-to-day spending rose to €15.6 billion, lifted by a 13% rise in social welfare spending. Current spending was up 4.5% in the first four months of the year, a slowdown from the 8.2% rate of increase in March. Capital spending was down 14.5% on April 2008.
A breakdown of tax receipts showed a 6% fall in income tax receipts to €3.8 billion, but stamp duty receipts were down 64% to just under €245m. VAT receipts are down more than €1 billion to €3.83 billion - a fall of 21%.
Economists said the pace of decline in the tax take was in line with the trend to the end of March. Davy economist Rossa White said income tax had held up quite well, reflecting the income levy introduced in the October 2008 Budget.
