Newsround: what Wednesday's papers say
High earners to take a €500 million hit in the budget, November tax revenues fall short of expectations and Custom House Capital failure to cost the state €15 million.
**The top stories from Wednesday's business pages:**
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**THE IRISH TIMES**
**Top pensioners** face budget take of €500 million (p1)
**Where deepest cuts** and tax hikes will hit hardest (p2)
**Merkel** re-elected CDU leader with record backing (p11)
**November** tax revenues short of expectations (Supplement, p1)
**Custom House Capital** failure costs state €15 million (p1)
**Finance ministers** fail to agree over ECB supervisory powers (p2)
**Losses** in insurance sector ...