Saturday 25 November 2017

Noonan says €1bn pro note deal will ease Budget

Finance minister Michael Noonan
Finance minister Michael Noonan

Fiach Kelly Political Correspondent

FINANCE Minister Michael Noonan has indicated for the first time that the proceeds of the €1bn promissory note deal will ease the next Budget.

However, Mr Noonan did not say how much of the €1bn he will use and whether it will be used for stimulus spending or to ease up on cuts and taxes.

“There are options emerging,” Mr Noonan told RTE’s ‘The Week in Politics’. He said there is “room to see where we will pitch the deficit”, but added: “It’s still going to be a very tough Budget.”

Some in Fine Gael – like Transport Minister Leo Varadkar – said it any extra case should be used to fund infrastructure projects while others on the Labour side say there should be an easing up on cuts.

Mr Noonan said he could do either, or a combination of both, saying: “There are options.”

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