Cabinet Budget Meeting Deliberates Cuts

24 November 2011 - Which Way to Pay

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Cabinet Budget Meeting Deliberates Cuts

The Cabinet is meeting today for the third time this week to discuss further cuts in the upcoming budget. Having been in meetings for two hours yesterday morning, Ministers continued to discuss how to further advance a budget that Minister for Finance Michael Noonan has described as being made more difficult because all the “low-hanging fruit” had been picked in last year’s budget, which saw a €6 billion contraction.

Ministers meeting again this morning are expected to concentrate on two main areas, social welfare and a jobs initiative. The Department of Social Protection will see the most departmental cuts, with an expected €700 million of changes.

Cabinet meetings next week are to centre around how the Government can raise €1.6 billion in duties and taxes. Noonan yesterday addressed an Ibec conference in which he announced to delegates that the Government’s aim of €3.8 billion in savings in 2012 ‘may vary slightly’ having seen additional exchequer data.

The Government again had to dismiss reports from Opposition parties there are tensions or conflicts between both Coalition parties over the contents of next month’s budget.

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