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13/10/2008
Cowen Hints At Tough Budget
Taoiseach Brian Cowen has signaled the forthcoming Budget will be the toughest for a generation, while speaking at a commemoration event in Co Kildare.
During the speech, which was centered on the plight of Irish republican Theobald Wolfe Tone, Mr Cowen also alluded to the future of the Lisbon Treaty, devolving of policing and justice in the north and the imminent Budget.
The Taoiseach gave his strongest indications to date that this week's financial plan for 2009 would be severely challenging.
Referencing the present economic climate, Mr Cowen said: "Many of the causes are rooted in how the international financial system operates and are difficult to understand. But, unfortunately, the ultimate impact can be very real for ordinary people."
"I don't believe that the Irish people would want us to shy away from the difficult decisions we must now make.
"We will make the necessary tough choices so that we can chart a course for economic renewal to bring us beyond the current short-term difficulties towards a stable long-term growth rate."
Early indications on what the Finance Minister Brian Lenihan will reveal in Tuesday's Budget include a special "levy" of 1% on incomes above a certain threshold rather than a direct tax hike.
Other indirect tax options on the table include abolishing the PRSI ceiling, doubling third-level registration fees, and imposing a €10 airport charge on every airline ticket.
Child benefit worth €1,920 a year per child are also mooted for the chop, and are expected to be removed once a child turns 16 or under a rigorous means test.
The annual early childcare allowance of €1,100, which was only introduced in 2006, is also being touted for substantial cuts of €100m.
(DW)
During the speech, which was centered on the plight of Irish republican Theobald Wolfe Tone, Mr Cowen also alluded to the future of the Lisbon Treaty, devolving of policing and justice in the north and the imminent Budget.
The Taoiseach gave his strongest indications to date that this week's financial plan for 2009 would be severely challenging.
Referencing the present economic climate, Mr Cowen said: "Many of the causes are rooted in how the international financial system operates and are difficult to understand. But, unfortunately, the ultimate impact can be very real for ordinary people."
"I don't believe that the Irish people would want us to shy away from the difficult decisions we must now make.
"We will make the necessary tough choices so that we can chart a course for economic renewal to bring us beyond the current short-term difficulties towards a stable long-term growth rate."
Early indications on what the Finance Minister Brian Lenihan will reveal in Tuesday's Budget include a special "levy" of 1% on incomes above a certain threshold rather than a direct tax hike.
Other indirect tax options on the table include abolishing the PRSI ceiling, doubling third-level registration fees, and imposing a €10 airport charge on every airline ticket.
Child benefit worth €1,920 a year per child are also mooted for the chop, and are expected to be removed once a child turns 16 or under a rigorous means test.
The annual early childcare allowance of €1,100, which was only introduced in 2006, is also being touted for substantial cuts of €100m.
(DW)
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