Business Irish

Saturday 21 January 2017

Lenihan doesn't mince words with promise to plug deficit

Published 04/11/2010 | 05:00

FINANCE Minister Brian Lenihan made an unscheduled appearance at an IBEC conference on economic growth yesterday to speak to the foreign media and address the country's business leaders.

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In a short, but robust speech, Mr Lenihan reiterated Ireland's plans to repay debts and plug the €20bn gap in the country's finances. He promised his audience that the four-year budget plan, due to be unveiled later this month, would include a detailed programme for every sector of the economy as well as details on taxation and public sector savings.

"The reality is that you can only make savings if you have policy," the minister said.

"We have already seen stability. We've already seen a very gradual and moderate amount of growth. We will see further growth," Mr Lenihan added, in a speech that was in keeping with the optimistic tone of many other contributions to the IBEC-sponsored conference entitled 'Now, Back to Business'.

Allied Irish Banks won't be fully nationalised and will "honour its debt obligations", Mr Lenihan also said in response to speculation that the bank would need even more money than previously stated.

Irish Independent

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