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Wed 07 Jul 2008Government announces plans to save €440m in cutbacks this year
MINISTER FOR Finance Brian Lenihan has announced plans to save €440 million this year and committed the Government to saving a further €1 billion in 2009. The Minister ruled out resorting to large-scale borrowing to deal with the shortfall in tax revenues.
This year's savings, announced yesterday at a joint press conference by Taoiseach Brian Cowen and Mr Lenihan, will come from a range of measures including a cutback in health spending, a scaling back of decentralisation and the cancellation of special pay increases for Ministers, senior civil servants and judges.
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