Irish tax revenues 3.1 percent above target in 2014

Ireland's tax take was 3.1 percent above target in 2014 as government spending, while falling, ended the year 2 percent above profile following a jump in the health and capital budgets in December, data showed on Tuesday. A nine percent year-on-year rise in tax revenue together with quickly recovering economic growth allowed the government to bring an end to austerity in October's budget for 2015 and cut the rate of income tax for the first time in seven years.
Ireland's budget shortfall, which ballooned during the country's financial crisis, fell to a still-high 8.2 billion euros from 11.5 billion at the same time last year, the Finance Ministry said in a statement.