Jan O'Sullivan (Limerick East, Labour)
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Question 81: To ask the Tánaiste and Minister for Finance if he will make a statement on the Exchequer returns for January 2008; the estimated Budget deficit he expects at the end of 2008 and compare this to the deficit forecast in Budget 2008; and if he will make a statement on the matter. [7727/08]

Brian Cowen (Laois-Offaly, Fianna Fail)
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As the Deputy may be aware, the monthly Exchequer Returns are available on my Department's website shortly after the end of each month. In addition, my Department's tax receipts, voted expenditure and debt service profiles for 2008, have also been published on the Department's website.

In relation to the returns for January, there was an Exchequer surplus of €630 million at end-January. This was generally in line with expectations.

In overall terms, January's tax receipts were slightly above target. Income tax was ahead of target at end-January but this excess was offset by a similar shortfall on VAT. Each of the other main tax-heads — excise duty, corporation tax, capital gains tax and stamp duty — were in line with expectations. However, taxes were down almost 3 per cent year-on-year, due mainly to slowing receipts from stamp duty and capital gains tax. Total net voted expenditure at end-January was slightly below profile.

An Exchequer deficit of €4,866 million for 2008 was forecast at Budget time and that forecast remains unchanged at this stage.