Based on the emerging data, tax receipts for the year as a whole are now anticipated to be in the region of €32 billion. This revised position, down from the €34.4 billion set out in the April Supplementary Budget, was signalled at the end-September Exchequer Returns.
This weaker tax base forms the aggregate basis for revenue next year. Trends in incoming tax receipts are continually analysed by my Department and the prospective end-year outturn kept under constant review. The Pre-Budget Outlook, which my Department plans to publish in mid-November, will provide an update on the macroeconomic outlook and set out a technical fiscal forecast, including tax revenue for 2010. The Budget will be published on 9 December and will provide a post-Budget assessment taking account of policy decisions.