The Government is to delay some of the infrastructural improvements included in the National Development Plan. Finance Minister Charlie McCreevy said today that the country must face up to the reality of the economic downturn and should not pretend that it was not happening.
Mr McCreevy added that he was going to be as tight as he possibly can in this year's budget He said that he would be delivering a more conservative package of spending increases and tax reductions next month than in previous years. He indicated it may be possible to cut PRSI payments.
He said, however, that he would not be able to reform tax levels as quickly as he would have wanted. The Minister said that increased spending on health would have to be financed by cutting back in other areas.
He signalled that the delivery of infrastructural projects in the development plan would be more flexible than the original seven-year time frame.
