Menu
09/12/2009
Budget Cuts Loom Later
It is widely anticipated that the most severe Budget in the State's history will be announced later today.
Billed as a recession-beater it will make immediate savings of €4bn (£3.6bn; $6bn) to stabilise the economy.
However, it will be painful, as the government has said social welfare and capital expenditure will be cut.
In addition, industrial trouble looms as the Budget comes amid threats of industrial action by public sector workers who could face pay cuts of up to 6%.
Even members of the police force said they were considering becoming involved, after government talks with union leaders collapsed on Friday.
Finance minister Brian Lenihan said severe measures were needed to prevent debt growing from almost 12% of GDP - already four times the level allowed by the European Union - to 14%.
It is thought salaries of the highest-paid public sector employees could be reduced by up to 20%.
It is expected social welfare payments will be cut by about 4% and child benefits by about 9%, as well as a reduction in payments to the unemployed under 23. Old age pensions are the only area to be unaffected.
(BMcC/KMcA)
Billed as a recession-beater it will make immediate savings of €4bn (£3.6bn; $6bn) to stabilise the economy.
However, it will be painful, as the government has said social welfare and capital expenditure will be cut.
In addition, industrial trouble looms as the Budget comes amid threats of industrial action by public sector workers who could face pay cuts of up to 6%.
Even members of the police force said they were considering becoming involved, after government talks with union leaders collapsed on Friday.
Finance minister Brian Lenihan said severe measures were needed to prevent debt growing from almost 12% of GDP - already four times the level allowed by the European Union - to 14%.
It is thought salaries of the highest-paid public sector employees could be reduced by up to 20%.
It is expected social welfare payments will be cut by about 4% and child benefits by about 9%, as well as a reduction in payments to the unemployed under 23. Old age pensions are the only area to be unaffected.
(BMcC/KMcA)
Related Irish News Stories
Click here for the latest headlines.
13 March 2024
Public Appeal After Third Confirmed Case Of Measles In Ireland
The Public Health Agency (PHA) has announced that it has been made aware of a third confirmed case of measles in the Republic of Ireland. It is understood that the case was confirmed in a resident of Ireland who had arrived back in the country from Abu Dhabi on Saturday 9 March 2024.
Public Appeal After Third Confirmed Case Of Measles In Ireland
The Public Health Agency (PHA) has announced that it has been made aware of a third confirmed case of measles in the Republic of Ireland. It is understood that the case was confirmed in a resident of Ireland who had arrived back in the country from Abu Dhabi on Saturday 9 March 2024.
25 June 2012
Government Won't Rule Out Increased Taxes And Further Cuts
A rise in income tax and cuts to social welfare cannot be ruled out, the government has warned as it examines its options for the next Budget. This time last year, both Taoiseach Enda Kenny and Tanaiste Eamon Gilmore reassured voters that two key general-election pledges would be met.
Government Won't Rule Out Increased Taxes And Further Cuts
A rise in income tax and cuts to social welfare cannot be ruled out, the government has warned as it examines its options for the next Budget. This time last year, both Taoiseach Enda Kenny and Tanaiste Eamon Gilmore reassured voters that two key general-election pledges would be met.
16 September 2011
Govt. Critcised Over Social Welfare Cuts
The Government has been criticised for its plans to cut social welfare rates and for its 'lack' of help with the unemployed. Social Justice Ireland (SJI) has spoken out against the Government saying that there is absolutely "no justification" for Government to reduce social welfare rates in the Budget 2012.
Govt. Critcised Over Social Welfare Cuts
The Government has been criticised for its plans to cut social welfare rates and for its 'lack' of help with the unemployed. Social Justice Ireland (SJI) has spoken out against the Government saying that there is absolutely "no justification" for Government to reduce social welfare rates in the Budget 2012.
29 June 2009
€5bn Cuts To Come Next Year
An Irish economist is expected to deliver recommendations for €5 billion of the toughest spending cuts in the State's history tomorrow. Colm McCarthy will present the controversial plan to Finance Minster Brian Lenihan tomorrow and could lead to some of the toughest public sector shake-ups in a generation.
€5bn Cuts To Come Next Year
An Irish economist is expected to deliver recommendations for €5 billion of the toughest spending cuts in the State's history tomorrow. Colm McCarthy will present the controversial plan to Finance Minster Brian Lenihan tomorrow and could lead to some of the toughest public sector shake-ups in a generation.
10 December 2009
Budget Defended In Dáil Debate
The Dáil will today debate cuts in social welfare rates when it discusses legislation to enable measures outlined in yesterday's full Irish Budget. It saw public servants and social welfare recipients being hit by €4 billion in spending cuts announced by Minister for Finance Brian Lenihan.
Budget Defended In Dáil Debate
The Dáil will today debate cuts in social welfare rates when it discusses legislation to enable measures outlined in yesterday's full Irish Budget. It saw public servants and social welfare recipients being hit by €4 billion in spending cuts announced by Minister for Finance Brian Lenihan.
-
Ireland WeatherToday:A few fog patches at first, soon clearing to leave a dry day with some patchy cloud and good sunny spells. Light and variable winds. Feeling mild in sunny spells. Maximum temperature 14 °C.Tonight:Dry and quite chilly overnight under prolonged clear spells and light winds. This will allow a few fog patches to develop in places. Minimum temperature 2 °C.
