Willie Penrose (Longford-Westmeath, Labour)
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Question 131: To ask the Minister for Finance his views on the serious decline in tax receipts which are running €736 million below target for the first four months of 2008; if he anticipates being in a position to meet all the spending commitments set out in Budget 2008; the implications the revenue shortfall is expected to have for the remainder of 2008 and on the spending commitments set out in Budget 2008; and if he will make a statement on the matter. [21952/08]

Aengus Ó Snodaigh (Dublin South Central, Sinn Fein)
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Question 136: To ask the Minister for Finance the steps, in view of the fact that tax revenues to date in 2008 are significantly behind compared with the same period in 2007, he will take to ensure that the Exchequer has the revenue to meet public spending demands. [21938/08]

Bernard Allen (Cork North Central, Fine Gael)
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Question 151: To ask the Minister for Finance his views on the implications of the shortfall in tax receipts to date in 2008 for public policy. [21855/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 131, 136 and 151 together.

At Budget time, an Exchequer deficit of €4,866 million was projected for the year with tax revenue growth of 31⁄2 per cent forecast. At end-April, my Department published information which showed that overall tax receipts for the first four months of the year were €736 million, or 5.3%, behind target. At the time it was indicated that it was not expected that the tax shortfall would be recouped. Later today, as is the norm, my Department will publish detailed information in relation to the Exchequer position at end-May. In relation to tax revenue, these numbers will show a further deterioration in taxes and as previously indicated the shortfall is not expected to be recouped later in the year. My Department monitors tax receipts and expenditure on an ongoing basis and an updated view on the expected Exchequer position in 2008 will be presented at the end of this quarter.

While the fiscal position has weakened from that envisaged at Budget time, this has to be considered in the context of the strong position of the public finances such as our low debt to GDP ratio.