The latest exchequer returns show strong growth in overall tax receipts.

At €4.7 billion, corporation tax receipts are almost 74% ahead of target - and 60% up on the same period last year.

The overall Exchequer deficit is now €2.1 billion, compared to a deficit of 8.5 billion euro in the same period last year.

The Department of Finance says the improvement is driven by increased tax receipts, reduced expenditure and a number of one-off transactions.

Overall tax receipts in October were €732 million - 27% ahead of target.

However, income tax was €24 million or 1.7% below forecast.