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Editorial: Taxes or cuts-either way we pay

No matter how Brian Cowen and his government dress things up it is clear from yesterday's Cabinet meeting that ordinary citizens will be an awful lot worse off after this year's budget.

The Taoiseach has stated that savings will be achieved through cuts and not taxes.

The hole in the public finances created by the collapse of the Celtic Tiger -- and the need to bail out the banks -- has to be plugged and a cut in services that many of us rely on in order to maintain a certain quality of life is inevitable.

The Government seems anxious to reassure us that our pay packets will not be any lighter through new taxation.

But a reduction in services, many of which are designed to protect the most vulnerable members of our society, is just as devastating.

The reality of the matter is that even without new taxes, we're all going to feel the pain after the December budget.