The Exchequer deficit grew to €3.7 billion in April despite a pick-up in tax receipts, the latest Exchequer returns show.
Weak property markets and a slowing economy continued to impact on Revenue receipts with a total of €14.69 billion in tax being collected in the first four months of 2008 compared to €15.17 billion in the same period last year.
The Exchequer deficit compares to a deficit of €638 million in April 2007.
Tax receipts in the year to April stood over 3 per cent lower than in the same period last year, which marked a slight improvement on the 6 per cent shortfall at the end of March. Tax revenue to date was down €736 million, or 5.3 per cent, below projections, compared to €600 million at the end of last month.
Capital gains tax was one of the worst performers, falling 36 per cent, or €334 million, to the end of April as the slowdown in the property market continued to bite.
Vat, meanwhile, slipped €276 million or 5.4 per cent during the period. Stamp duty was also down, slipping €52 million, while the excise take fell €59 million.
Income tax and corporation tax fell moderately, losing €10 million and €4 million respectively, but were generally considered on target.