Corporation tax receipts have left State revenue subject to the profitability and decision-making of a handful of companies in the pharmaceutical and technology sector, Central Bank Governor, Gabriel Makhlouf has warned the Government. "These tax receipts leave the revenue base of what is now the State's second largest tax head highly exposed to the decisions and profitability of a very small number of companies." Domestically-driven inflation"Headline inflation in Ireland has passed its peak, however, broad inflationary pressures remain pronounced," said Mr Makhlouf. Mr Makhlouf said that future decisions will continue to depend on their assessments, the results of which "are still likely ahead of us." "The economy and the public finances have weathered significant challenges in recent years," said the Central Bank Governor.

Source: Irish Examiner June 23, 2023 21:54 UTC