The State recorded a surplus of €5 billion in 2022, the Department of Finance has revealed. 

Whereas in 2021 the State had a deficit of €7.4 billion, the end of the pandemic has seen a surge in revenue from VAT and income tax. 

Corporation tax accounted for €22.6 billion worth of revenue and without it the Exchequer would have recorded a deficit. 

Last year, the Government spent €88.8 billion euro last year - a €1.2 billion euro increase on 2021.

Main image: Paschal Donohoe and Michael McGrath