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Sat 03 Mar 2009Excessive tax rises not the answer
OPINION:It is important that budget planning is not derailed by overreaction to our problems, writes PATRICK HONOHAN
THE CONTINUED slide in global economic conditions over the past few weeks can make it seem that the magnitude of the Government’s budgetary challenge is ever-shifting, making robust budgetary planning difficult. Do the worsening external conditions change what needs to be done? Should taxes be increased and spending cut even more than we thought a couple of weeks ago? In a word, no.
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