Exchequer figures show a total tax revenue of €38.7 billion

The Government have announced the Exchequer figures for the end of May, showing total tax revenue of €38.7 billion.

​This is an increase of 6.1%, made up of €15.6 billion in income tax receipts, €6.2 billion of corporation tax and VAT receipts of €12.2 billion.

​In total, there was an Exchequer deficit of €2.3 billion by the end of May; the Government say this reflects transfers to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund.

​Total gross voted expenditure was €45 billion, €3 billion more than in 2025.

Tánaiste and Minister for Finance, Simon Harris T.D., said: “Today’s Exchequer returns are a further indicator that, despite all the turmoil in the global economic landscape, Ireland’s economy remains remarkably resilient.

​“The robust growth in income tax and VAT receipts, in particular, points to the success of this Government’s budgetary strategy, which is supporting households and businesses and protecting jobs in a time of exceptional uncertainty.

“However, we are conscious too that people are worried about the impact of the conflict in the Middle East on their daily lives and their living expenses.

“Over the course of the next few weeks, this Government will put in place the building blocks for Budget 2027 – a budget that will support working families and ensure people keep more of their hard-earned earnings each month.

“On 15th June Minister Chambers and I will be attending the National Economic Dialogue to hear from stakeholders from across society about their priorities for the Budget and how we can work together to manage this period of uncertainty.”

Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitisation, Jack Chambers, said: “The gross voted expenditure ceiling of €118.5 billion set for 2026 provides for a significant uplift in investment this year.

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“By the end of May, gross voted spending reached €45 billion, reflecting increased investment across key areas including health, education, social protection and critical infrastructure.

“This uplift will support the delivery of our Programme for Government commitments and enable better public services for our people.

“At the same time, while May expenditure shows some moderation in spending with most Departments operating within profile, my Department will continue to work closely with other Departments to ensure expenditure is managed in a planned and sustainable way, delivering value for money for the State.”