Opposition asked for ideas on new mini-budget
The opposition parties have been invited to make detailed submissions to the Government on what should be contained in a mini budget due to be unveiled before the end of the month.
The Taoiseach, Brian Cowen, accepted the need for a new budget yesterday after Exchequer figures revealed another major slump in tax revenues.
He had previously rejected calls for a special budget to increase taxes, saying the Government would wait for recommendations from the Commission on Taxation.
This stance led to the collapse of talks with the social partners on an economic recovery plan and forced the Government to unilaterally impose the controversial pension levy on public-sector workers.
However, Mr Cowen now says "a combination of revenue raising and expenditure adjustments" will be needed after the latest figures showed tax revenues this year will be well below the ?37bn anticipated by the coalition.
