Featured: Irish Exchequer Tax Receipts, 2008 and 2009 view more featured »
Ireland's Department of Finance has released its figures for October, showing major declines across the board -- particularly in Income Tax and Value-Added Tax. Unemployment is up dramatically and declines in earnings for those still in employment mean that 50% of workers are now outside the income tax net. The government had projected a decifit of €22bn in April based on revenues of €34.75bn but it now seems that figure was optimistic.
With the Fianna Fáil / Green Party government committed to not raising taxes, the stage is set for swingeing cutbacks in public expenditure and a long winter of discontent and industrial action.
Created by Ben Walsh
Modified Nov 3, 2009 2:40am
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