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 in Wednesday's newspapers
The top stories in Wednesday's newspapers

**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 ...