VAT Receipts down 21% on 2008
Wednesday the 3rd of June 2009
Government expenditure in the first 5 months of this year has increased by 3% on 2008. VAT receipts for this year have fallen 21% on 2008.
The cost of funding rising unemployment has increased by 13%.
Tom Coffey, CEO DCBA, said, "this outcome of falling tax revenue and rising unemployment can be attributed to mismanagement by Government who have failed to control their own costs including politicians and public sector pay whilst increasing direct and indirect taxation. They have failed to understand that low taxes and a competent well managed public sector encouraging opportunity and enterprise creates wealth and jobs."
