Marked rise in income tax collected enables Q2 government surplus

For the first time in 16 years, a surplus was registered in government finances in the second quarter of 2016, the government said yesterday. The surplus was of €11 million, compared to a deficit of €38 million for the corresponding period last year.

The government said government expenditure dropped by 3.2 per cent compared to last year, while income increased by 2.2 per cent.

The government collected €383 million in income tax in the second quarter this year.