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Saturday 16 December 2017

Cabinet split over increased cuts: what they said

Under the bailout, the Government is committed to reducing borrowing to 8.6pc of economic output. The previously estimated package of Budget cuts and taxes needed to meet that target is €3.6bn, but all projections indicate it will need to be higher.

"My own thinking is we probably need a little more than 3.6 to get to 8.6." Finance Minister Michael Noonan warns of more pain on Wednesday.

"That's what we said we would do, and I believe it's sufficient."

Communications Minister Pat Rabbitte says on Thursday that €3.6bn is enough.

"There is no split in the Cabinet. There isn't any division about this."

Taoiseach Enda Kenny plays down talk of a rift, saying figures on tax returns and economic growth are needed first.

"To talk about making the pain worse in the absence of these figures is engaging in the kind of speculation that is not helpful."

Pat Rabbitte sticks to his position yesterday.

Irish Independent

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