The much publicised pay cuts taken by TDs, senators and high-ranking public servants resulted in only trickle of revenue for the Exchequer last year.

Voluntary salary deductions resulted in non-tax revenue of just €84,000 last year according to the audited financial statements of the exchequer for 2008 released last week. However, the relatively small amount does not mean that those who promised to take cuts have reneged on their decision, but rather that the decision came too late to impact on the 2008 accounts. A spokeswoman for the Department of Finance said that the sum does not represent a true reflection of the impact of voluntary pay cuts and that the real effect will not be known until next year's accounts are released.