Tax revenue is falling off and the current account deficit is growing. The €130 million in health cuts is just the start; there is more, much more, in store for us. By Michael Taft.
The Exchequer figures are out. And they are not good. Coming into this year, the Government had a strong wind at its back, with €1 billion being carried forward from Budget 2011. That wind has blown itself out and the Government is looking at a deteriorating situation.
The best way to compare tax returns is not necessarily with targets. Targets can be moulded in ways to show all manner of results; for instance, set low targets that you know will be achieved .and voilà, you have succeeded. A better way is to compare with last year. In that way, we can see how the economy is performing.Add a comment