Charles Flanagan (Laois-Offaly, Fine Gael)
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Question 32: To ask the Minister for Finance if he is satisfied that the tax forecasts on which he has based financial projections are robust in the budget 2009 statement. [38767/08]

Eamon Gilmore (Dún Laoghaire, Labour)
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Question 72: To ask the Minister for Finance his views on the October 2008 Exchequer returns; the updated tax revenue profiles for November and December 2008 and for 2009; and if he will make a statement on the matter. [38819/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I propose to take Questions Nos. 32 and 72 together.

The October 2008 Exchequer Returns showed an Exchequer deficit of just over €11 billion for the first ten months of the year, including a tax shortfall of almost €4.3 billion.

As I have indicated previously, November is a key month for tax collection. While in the ten months to end-October, the tax shortfall is almost €4.3 billion, my Department expects that a further shortfall of the order of €21⁄4 billion will materialise in the final two months of the year.

While tax receipts in October have continued the poor performance of recent months, they are nonetheless broadly in line with what was anticipated by my Department, when formulating the end year estimated outturn that underpinned the Budget. In overall terms, the assumed shortfall for the year is approximately €61⁄2 billion and this has not been revised in light of the October tax data.

Budget 2009 forecast tax receipts of almost €42.8 billion in 2009, which represents revenue growth of approximately 1% as a result of significant revenue raising measures introduced in the Budget.