DAVY VIEW

The key news in June’s exchequer returns was a strong performance from corporation taxes — June is a key month for revenue collection with €2.4bn received, 7.9% better than expected, making up for a shortfall earlier in the year. Spending is within budget targets for now, leaving the public finances €560m ahead of target in H1 2019. However, it remains to be seen whether growth in health spending will be reined in in H2 2019.