An Exchequer deficit of €5,331 million was recorded to end-June 2020. This compares with a surplus of €260 million in the same period last year. The €5,591 million year-on-year deterioration in the Exchequer balance is primarily driven by increases in voted current and capital expenditure. Cumulative tax receipts for the year are €26,863 million, up €192 million, or 0.7 per cent, over the same period last year. Receipts to end-June have benefitted from a strong performance in January and February as well as solid corporate tax receipts.