New exchequer figures show there was a deficit of €2,694m recorded to the end of October.

This compares to a surplus of €326m in the same period last year.

But when adjusted for the impact of the AIB share sale in 2017, the exchequer has an underlying annual increase of €414m.

The share sale was worth €3,434m.

Tax revenues of €42,163m were collected to the end of the month - an increase of 6.8% on 2017.

This was slightly ahead of profile, up 1.4% or €594m.

Source: Department of Finance

Overall, total net voted expenditure was at €40,142m - up €3,376m or 9.2% year-on-year.

Combined non-tax revenue and capital receipts of €3,661m were down 46.4% year-on-year, due to the effect of the AIB share sale.

Income tax receipts of €1,734m were recorded last month - a 5.4% increase on the year, with receipts broadly in line with profile.

While corporate tax receipts were €773m above target, at €1,579m.

The Department of Finance says: "This is chiefly due to the higher than profiled payments from large companies which was signalled to this department by the Revenue Commissioners earlier in the year and included in Budget 2019."

In other areas, motor tax performed very well in the month - with €81m collected, against a target of €65m.

And customs receipts of €30m were collected in October, coming in €3m below profile.