Last week, the Department of Finance and the Department of Public Expenditure and Reform published the Fiscal Monitor for April. The Exchequer deficit to the end of April 2022 is €1.1 billion. By comparison the deficit to the end of April 2021 was €7.6 billion. Tax revenue of €21.1 billion to end-April (up 31 percent on the same period last year) contributed significantly to this improvement in the public finances. Income and corporation tax receipts were both ahead of April 2021 with VAT receipts broadly in line with last year. Commenting on the figures, the Minister for Finance, Paschal Donohoe, said:
“Today’s figures show that the strong momentum in tax receipts has continued into the start of the second quarter. While the annual comparisons are distorted due to a number of factors, in particular the Level 5 restrictions that were in place last year, the underlying trends are a positive sign of the strength of the economic recovery.
"It is also important to stress that today’s figures are, of course, backward looking. We expect economic activity and the public finances to be significantly affected by the war in Ukraine.
"We have faced many challenges in recent years – Brexit, COVID-19, and now war in Europe. In each one of these, this government has demonstrated our ability to be agile and responsive. We know that there are difficult times ahead but we also know that we face them from a strong position.”
You can more about the latest figures on gov.ie.