Irish face another austerity budget

James Ashton
December 2012
Evening Standard;12/ 5/2012, p42
IRELAND was today seeing its sixth austerity budget since the financial crisis, with finance minister Michael Noonan expected to announce �3.5bn (�2.9bn) tax rises and spending cuts. Ireland received an �85bn EU/IMF bailout in November 2011, but has made a limited return to the sovereign bond markets. It faces a budget deficit of 8.3% of GDP this year, and in the second quarter GDP was 1.1% down over the year.


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