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05/01/2009
Government Expects Shortfall Of €8 Billion
Brian Cowen has suggested his government expects a tax shortfall of €8 billion for 2008 and, without corrective action, this could lead to a deficit of €20 billion next year.
Speaking on RTÉ's This Week radio programme, Mr Cowen said 2009 would be a difficult year in Ireland, and outlined some of the tough choices ahead for his government.
Although tax changes were not an "immediate priority", the Taoiseach said taxation would play a roll in balancing spending and tax revenue.
Mr Cowen also suggested that the long negotiated National Wage Agreement could come under threat as international and domestic pressures continue to bite.
The programme also revealed the possibility of lay-offs in the public sector, with the Taoiseach admitting the Public Expenditure Review Committee is looking closely at public spending and reductions may lie ahead.
"It's not sensible for us as a country to allow that level of indebtedness and borrowing to continue over the years ahead," he said.
Mr Cowen pressed the point that Ireland's present situation, as it stands, is not sustainable for any Government and said that it had to be addressed.
(DW/KMcA)
Speaking on RTÉ's This Week radio programme, Mr Cowen said 2009 would be a difficult year in Ireland, and outlined some of the tough choices ahead for his government.
Although tax changes were not an "immediate priority", the Taoiseach said taxation would play a roll in balancing spending and tax revenue.
Mr Cowen also suggested that the long negotiated National Wage Agreement could come under threat as international and domestic pressures continue to bite.
The programme also revealed the possibility of lay-offs in the public sector, with the Taoiseach admitting the Public Expenditure Review Committee is looking closely at public spending and reductions may lie ahead.
"It's not sensible for us as a country to allow that level of indebtedness and borrowing to continue over the years ahead," he said.
Mr Cowen pressed the point that Ireland's present situation, as it stands, is not sustainable for any Government and said that it had to be addressed.
(DW/KMcA)
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