Fears that massive budget cuts in public spending and steep tax increases could prompt a further slowdown in economic activity are likely to lessen the severity of next month’s emergency budget.
Ministers and officials are worried that taking too much money out of the economy could further depress demand, leading to lower tax receipts and worsening the economic crisis.
These concerns could lead to a further expansion in borrowing this year, beyond the...
Subscribe from just €1 for the first month!
All Digital Access + eReader
Unlimited Access for 1 Month
Then €19.99 a month after the offer period.
€149 For the 1st Year
Unlimited Access for 1 Year
90 Day Pass
Get a Business Account for you and your team