The Government’s fiscal position two weeks before Budget 2021 is far better than feared despite the Exchequer deficit growing by more than €4bn in the last quarter.
Massive State spending to support the economy through the pandemic has put the balance €9.4bn in the red for the first nine months of the year, compared to €5.2bn in July.
However, a combination of strong corporate and income tax receipts has offset the spending somewhat, with total tax collected down just 3pc on last year at €39.6bn.