Tuesday, October 08 11:24:07
Finance minister, Michael Noonan, today softened the punch of next week's Budget, saying that the axe and tax adjustment would be E2.5 billion and not the previously flagged E3.1 billion.
He said that the Troika are content to see the fiscal adjustment target reduced.
"Somewhere north of E2.5bn - not less than two, two-point five - because of the significant savings that are coming through," he said to reporters outside the Dail this morning when quizzed on the level of adjustment.
"When we add that to the correction on expenditure and the tax increases, we'll be over E3.1bn," he said.