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05/11/2010
Cowen Unveils Plans For €6bn Cuts
Taoiseach Brian Cowen has unveiled plans for €6 billion worth of cuts ahead of the Budget announcement.
Mr Cowen revealed the plans yesterday, which have since been described by the European Commission as "appropriate".
However, the figure is double the amount indicated by Finance Minister Brian Lenihan in last year's Budget.
It has been estimated that a total of €15 billion will need to be slashed from public spending over the next four years in order to achieve its deficit target of 3% by 2014.
The four-year Budget plan was expected to be announced in the middle of November, but speculation is mounting that the announcement may be delayed until after the Donegal South West by-election, which is due to be held on November 25.
(KMcA/BMcC)
Mr Cowen revealed the plans yesterday, which have since been described by the European Commission as "appropriate".
However, the figure is double the amount indicated by Finance Minister Brian Lenihan in last year's Budget.
It has been estimated that a total of €15 billion will need to be slashed from public spending over the next four years in order to achieve its deficit target of 3% by 2014.
The four-year Budget plan was expected to be announced in the middle of November, but speculation is mounting that the announcement may be delayed until after the Donegal South West by-election, which is due to be held on November 25.
(KMcA/BMcC)
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