Thursday 18 December 2014

Government will look to raise 'somewhere around' €2bn in tax hikes and spending cuts in Budget 2015

Published 08/04/2014 | 22:01

Minister for Finance Michael Noonan pictured at the Sunday Independent Business evening in the Marker Hotel last evening. Picture: Frank McGrath
The minister was speaking at a reception attended by business leaders to mark the expanded Sunday Independent business section. Picture: Frank McGrath

THE Government will look to raise ''somewhere around'' €2bn in Budget 2015 in tax hikes and spending cuts, Finance Minister Michael Noonan said tonight.

The minister was speaking at a reception attended by business leaders to mark the expanded Sunday Independent business section.

Mr Noonan said that even if there had never been a banking crisis in the country, there would still have been a huge amount of debt to have to deal with.

Earlier, there was a panel discussion involving Dan O'Brien, columnist with both the Irish Independent and Sunday Independent, Sunday Independent business editor Nick Webb, economist Colm McCarthy and Brendan Keenan.

Mr McCarthy said he believed the economy had bottomed out and that there was patchy growth, but he was not persuaded that the recovery was sustainable in the long term.

He also said European leaders had been acting under the policy of doing too little, too late. 

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