The latest Exchequer returns show tax revenues are 5.8% ahead of target in the first nine months of the year.

Figures for the first nine months of the year show almost all the major tax areas are ahead of schedule - with a huge surge in corporation tax.

This means the public finances are around €4bn better off than this time last year.

Government spending meanwhile is around 1.3% below projections, with health the only problem area.

Finance Minister Michael Noonan says the figures are welcome.

But he says the extra leeway will not be used to go towards extra giveaways.