Thursday 23 February 2017

Brendan Keenan: Pressure grows for a tougher Budget

Bank claims Lenihan's forecasts too optimistic

Brendan Keenan Economics Editor

Published 31/07/2010 | 05:00

FINANCE Minister Brian Lenihan is under pressure to produce an even tougher Budget in December after the Central Bank warned his growth forecasts are too optimistic.

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In its latest quarterly review, the bank put the rise in economic output (GDP) next year at 2.8pc -- well below the 3.3pc in the Budget calculations.

That difference could mean a €300m shortfall in tax receipts next year, and bank economists urged the minister to cover any loss with more tax rises and spending cuts.

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