State Expects €19 Billion Exchequer Deficit To The End Of 2020

The rise in expenditure came particularly for the Departments of Health and Social Protection in response to Covid-19.

Tax revenues fell by €2.1 billion last year while public health restrictions led to VAT receipts dropping by €2.7 billion on the figures from 2019.

Income tax receipts also saw an annual decline of €224 million, while excise returns were dropped by €500 million.

The only major tax to see an increase in 2020 was corporation tax, which was up €945 million or nearly 9% on the previous year.