Thursday 20 July 2017

Editorial: Last of the cuts - if the eurozone holds up

Finance Minister Michael Noonan will be keeping a close eye on the eurozone
Finance Minister Michael Noonan will be keeping a close eye on the eurozone
Even final exams at college are not as stressful as the Leaving Cert
Editorial

Editorial

Budget 2015 is supposed to be the last of the major adjustments needed to rein in the public finances in the wake of the economic meltdown.

The package of spending cuts and tax hikes had been set for €2bn. However, ministers have acknowledged that the level of growth in the economy and the health of the tax returns means the adjustment will be far lower - possibly less than €1bn.

The negotiations for Budget 2015 will also set ceilings for spending in 2016 and 2017, taking the Coalition's predictions beyond the next general election.

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