"A Substantial Down Payment On The Journey Back To Economic Health"

EXHIBITION : MEMORABLE BUDGETS

About this Item

Minister for Finance, Brian Lenihan, described the budget as, "a substantial down payment on the journey back to economic health". He added that there is every reason to have confidence in the future of the country.

  • Title
    Budget 2011 - Budget Speech
  • 1st Broadcast
    07/12/2010
  • Contributor
    David Davin Power (Reporter)
    Brian Dobson (Newsreader)
  • Clip Duration
    00:02:31
  • Material Type
    Video
  • Series title
    RTÉ News
  • Clip title
    "A Substantial Down Payment On The Journey Back To Economic Health"
  • Extended description

    Just four years earlier in December 2006 Minister for Finance, Brian Cowen, had introduced a generous budget package which he told RTÉ News was intended to reward work and ensure that workers reaped the benefits of positive public finances. It was now time for Ireland to pay for these measures.

    Brian Lenihan described the budget as working off the excesses of the boom as he introduced the first instalment of the four year recovery plan. €6 Billion was to be taken out of the economy over the coming year. Cuts introduced included tax credits and bands, child benefit and social welfare. A new universal social charge replaced the income and health levies. The employee PRSI ceiling was abolished. One of the most controversial of measures was the cutting of the minimum wage by €1 per hour to €7.65. Public sector salaries were capped at a maximum of €250,000 and ministerial and Taoiseach salaries were to be reduced.

    This report also includes reaction from opposition TD's Michael Noonan and Joan Burton. Noonan described this budget as, “the budget of a puppet government”, while Joan Burton emphasised the widening gap between rich and poor as a result of the budget measures. Sinn Féin’s, Pearse Doherty, comments about the fact that people on social welfare face cuts, while TDs don’t.

  • Information

    A RTÉ News report by David Davin Power. This report was introduced by newsreader Brian Dobson.

  • Local keywords
    Memorable Budgets, Budget, 2011, Brian Lenihan, Michael Noonan, David Davin Power, Pearse Doherty, Joan Burton, Politics, Economics
  • Geographical coverage
    Ireland
  • Topic
    Politics and Economics
  • Publisher Broadcaster
    RTÉ
  • First broadcast channel
    RTÉ One
  • Production year
    2010
  • Country of production
    Ireland
  • Original identifier
    11D00021
  • IPR restrictions
    Rights Reserved - Free Access
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  • Item type
    part/extract
  • Item colour
    Colour
  • Item sound
    Mono
  • Aspect ratio
    16:9 (widescreen)
  • Language used
    English (eng)
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