Daft Property - Irish Property News

Nation braces for impact of Lenihan’s savage budget... FINANCE Minister Brian Lenihan last night warned he was “taking the knife” to billions of euro worth of spending in an emergency budget that may also inflict “painful” tax hikes. Signalling the grimmest government financial statement for a generation, Mr Lenihan revealed only the social welfare department would escape deep cuts. He insisted his key priority was to try and stabilise the State’s finances in the most difficult circumstances “in living memory”. Mr Lenihan’s blunt talking came as cabinet colleague Noel Dempsey indicated “painful” tax cuts would feature in the crunch economic statement. Preparing the nation for what is likely to be the most savage budget in a quarter century, Mr Lenihan said he faced immense challenges. “We want to stabilise the public finances in the most difficult circumstances in living memory,” he told RTÉ. Transport Minister Noel Dempsey also braced taxpayers for increases. “You can either borrow, c