DAVY VIEW

Today’s exchequer returns show buoyant tax revenues, up 12% to €5.7bn, with income taxes, VAT and corporation taxes all up sharply on the year. Minister for Finance Paschal Donohoe therefore has a little more room for giveaways in next week’s Budget 2020. However, today’s releases also show that the Department of Finance will frame the Budget around pessimistic ‘no-deal’ Brexit forecasts with Irish GDP growth of 0.7% in 2020 and 2.5% in 2021.