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Taoiseach Brian Cowen said today said the gap in public finances between revenue and expenditure “has to be stabilised and cut” in the forthcoming budget.

Speaking in Clonmel, Co Tipperary today, Mr Cowen said the current tax revenue was at 2003 levels and there was a shortfall of €23 billion. “That’s not a sustainable position,” he said. "We have to address that."