Budget package of €4bn needed to meet targets

A €4 billion budget package in December is now required if the government is to meet targets agreed with the European Commission to reduce Ireland’s deficit next year.

Ian Kehoe - avatar

Ian Kehoe

2nd October, 2010
Budget package of €4bn needed to meet targets
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A €4 billion budget package in December is now required if the government is to meet targets agreed with the European Commission to reduce Ireland’s deficit next year.

The cost of the banking rescues means that larger spending cuts and tax increases will be required if the government is to reduce the budget deficit to close to the target of 10 per cent of GDP in 2011, according to well-placed sources involved in the process.

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