DAVY VIEW

August’s exchequer returns show that the Irish economy remains in a good place in Q3. Despite some volatility in tax receipts last month, all signs point to a robust performance for consumer spending this year. Above-profile income tax and social insurance receipts align with robust employee payrolls growth. Corporation tax payments were most likely boosted once again by Apple, with further top-up tax receipts still to come. While rapid growth in voted public spending continues, it remains in line with profile.