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Budget's effect on inflation critical with wage talks on way.
(From Irish Independent)
FORTUNE favours the brave, they say, and capital gains tax receipts have once again delivered for Mr McCreevy. They are the mainstay of the unexpected [euro]500m boost to the Exchequer finances from capital taxes revealed at the weekend.
That apart, the 2003 revenue returns were nothing to write home about. To be sure,Stamp Duties continued to deliver, reflecting the ongoing housing boom - they were[euro]200m over target. Income and Corporation taxes both undershot modestly, but the main spending taxes were well behind.
Excises have been weak all year and VAT was over [euro]200m behind, with most of theshortfall occurring …
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