The Minister for Finance has accused Labour leader Pat Rabbitte of throwing out years of socialist conviction in a desperate throw of the dice in the run-up to the General Election.
Speaking on RTÉ Radio's News At One, Brian Cowen said it was irresponsible to base budgetary and taxation policies on the basis of windfall gains and revenues received last year.
He was responding to Labour's promise to cut the basic tax rate by 2% if elected to Government after the election.
Yesterday Pat Rabbitte said he had never opposed improvements for low and middle income earners and rejected a charge of inconsistency in his policy on income tax.
Mr Cowen also said it is not outside the bounds of possibility to increase pensions to €300 over five years taking into account the government's record.
He said since 2002 the Government had increased pensions annually by 7.3%.
