“people have to make sacrifices for the greater good..”

RTÉ reports on Republic of Ireland Minister of Finance Brian Lenihan’s comments on Morning Ireland [RealPlayer file]

Speaking on RTÉ Morning Ireland following yesterday’s Exchequer figures which showed a tax shortfall this year of €8bn, he said that a reduction in our living standards is required [in Ireland]. However, Minister Lenihan said he does not believe that there will be a mini-Budget in the spring and that there is ‘little scope’ for tax increases next year. He said there will be further cuts in Government spending once a full picture of tax intake is available at the end of the year.