Gilmore says €3.1bn Budget adjustment not agreed target

Saturday 27 July 2013 23.11
Eamon Gilmore said the targets set and agreed had been expressed in percentage terms
Eamon Gilmore said the targets set and agreed had been expressed in percentage terms

Tánaiste Eamon Gilmore has said he does not see a case for doing more than is necessary to meet the Government's target of getting the deficit under 5.1% in 2014.

Today’s Irish Times reports that Mr Gilmore has rejected a call from European Stability Mechanism Managing Director Klaus Regling to stick to the Budget adjustment target of €3.1bn.

Speaking on RTÉ's The Business with George Lee this morning, Mr Gilmore said the targets set and agreed had been expressed in percentage terms and not in terms of a quantity of money.

He said there have been suggestions that even if the 5.1% target is met, there should also be cuts and tax adjustments of €3.1bn.

"Our view is that we will meet our target of 5.1% and we will do what is necessary in order to do that.

"That'll still be very significant and this will be a challenging Budget as all our budgets have been, but I do not see a case for doing more than is necessary to meet the target that has already been agreed with us." Mr Gilmore said.

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