More axe than tax in today’s Budget

Today’s Budget will see a raft of new measures designed to adjust the public finances by E2.5bn with a greater emphasis on cuts.

It is expected that there will be E900 million in additional revenues in 2014 and more than E1.6 billion in cuts.

Budget will take Ireland out of disastrous phase, says Noonan

Scrapping of telephone allowance for pensioners, rise in prescription charges, cut in jobseeker payments.

Minister for Finance Michael Noonan has arrived at Government buildings ahead of a midday cabinet meeting in advance of the unveiling of Budget 2014 this afternoon.

Noonan to announce range of harsh cuts in budget

Pensioners to lose phone allowance and prescription charges to see big increase. A raft of harsh measures such as ending the monthly telephone allowance for pensioners, a hefty rise in prescription charges, an 8-point rise to 41 per cent increase in Dirt tax and scrapping the mortgage interest supplement payments will be included in the €2.5 billion budget to be announced today.

Budget 2014 to be unveiled today

The Cabinet is to meet later today to discuss the Budget for a final time before details are made public.

Finance Minister Michael Noonan will deliver the taxation measures in the Dáil at 2.30pm, followed by the Minister for Public Expenditure and Reform, Brendan Howlin, who will outline the spending cuts.

Special Cabinet meeting to finalise Budget details

A special Cabinet meeting was being held at Government buildings last night to finalise the measures to be introduced in the Budget aimed at reducing public spending by €2.5bn.

IMF’s Lagarde warns US debt default would cause new recession

The head of the International Monetary Fund Christine Lagarde has warned that a US debt default would send the world back into recession. In an interview featured on NBC, Ms Lagarde said that if the US defaulted on its debts, there would be so much uncertainty and risk of disruption that the standing of the US economy would be at risk.

New bill to allow firms apply to Circuit Court for examinership

The Government has announced plans to allow small and medium sized businesses to apply to the Circuit Court for examinership.

Euro zone SMEs ‘starved’ of credit

Small and medium sized businesses in the peripheral euro zone are being ”starved” of credit. They are also paying interest rates on bank loans up to three times more than their German counterparts.

Irish businesses more upbeat on recovery – survey

The outlook for Irish business is continuing to improve with a significant increase in the number of companies reporting better activity levels in the past three months.

Rabbitte defends upcoming Budget adjustment

Minister for Communications Pat Rabbitte has said that although the adjustment in the upcoming Budget will be somewhat less than €3.1bn it still does not mean that it will be any easier for hard-pressed families.