The tax take for 2016 was the highest ever - with the State taking more tax than during the peak of the boom.

The state gathered nearly €48 billion in tax last year, according to the latest Exchequer Returns - higher than the previous peak of 2007.

The State ran a deficit of just over €1 billion euro - but the Department of Finance says it's €800 million better than last year's figure.

But John Palmer from the Department of Finance says it's not all rosy - as December was disappointing:

Corporation tax came in 11 per cent higher than planned, but VAT missed its target by €440 million.

John Palmer from the Department of Finance says it's too early to say whether that's the result of the exchange rate with sterling: