The Minister for Finance Brian Cowen has moved to scupper any suggestion that he is preparing a big giveaway Budget for December.
Publishing the first pre-budget economic outlook from the Department of Finance, Mr Cowen has committed himself to maintaining the public finances in surplus in 2007.
The effect of this is to allow for substantially smaller giveaways than most economists had been anticipating in the Budget.
The Minister said that those who rely on the Government for fixed incomes, including the elderly and disabled, will be priorities in his budget.
Mr Cowen also moved to dampen speculation that stamp duty on house sales could be reduced in the budget. He said his strong inclination is not to interfere in the housing market and that nobody is suggesting there will be any change in the stamp duty regime in the near term.
The Pre-Budget Outlook allows for Budget day giveaways that would be similar in size to those of last year and would cost in the region of €2 billion, far lower than the €3.5 billion package suggested by some economists.
Mr Cowen said he has Government approval for his conservative approach and intends to implement it.
