State finances now back in deficit

THE Government's finances have moved back into the red again, after showing a rare surplus last month.

THE Government's finances have moved back into the red again, after showing a rare surplus last month.

According to figures released yesterday by the Department of Finance, the total deficit at the end of October was £134 million. At the end of September the Government was running a surplus of £185 million.

Tax revenues soared by £1 billion in the first 10 months of the year to £10.26 billion. However, with supply services costing £8.65 billion and the central fund, or debt servicing, coming in at £2.61 billion, it was still not enough.