RTÉ's economics editor George Lee reports on the details of Charlie McCreevy's budget.

Charlie McCreevy's third budget included a tax cut package of £950 million.

The most controversial elements of the budget affected the low paid and families with children. The low-paid got the least and the well-paid with no dependents got the most. A radical change in the tax system was seen as a move against one-income families. The top tax rate will now be paid by a single worker once they earn £17,000, by two income families once they earn £34,000, and by one income families when they earn £28,000. The minister believes that this will encourage stay-at-home spouses to take jobs outside the home.

On top of these changes the minister announced a £8 increase in child benefit payments, a £7 increase in the old-age pension, and a £4 increase in unemployment benefit.