The Government will announce its plans to deal with the deteriorating economic situation next week.
Taoiseach Brian Cowen told the Dáil that the half-year Exchequer figures will be published tomorrow. He said the Government would make its decisions at its next meeting after that, and would then come into the Dáil next week to outline what its budgetary position is.
He was replying to Labour leader Eamon Gilmore, who said the Government had been using 'coded language' to imply that it was contemplating spending cutbacks and some form of stealth taxes.
Deputy Gilmore urged the Government to 'treat the people of this country like adults' by telling them exactly what is being planned.
Earlier, Fine Gael leader Enda Kenny said 100,000 young people were facing the prospect of their homes being worth less than their mortgages. Mr Kenny asked the Taoiseach if he accepted responsibility for not heeding warnings that Irish house prices were grossly over inflated.
He said these people were 'the mortgaged poor in what was a phony economy.'
Mr Cowen rejected the charges, saying that the reforms he introduced to stamp duty in the last Budget were taken at the appropriate time. He said earlier changes would have fuelled house prices as it was a sellers' market.
He added that the country was facing into difficult economic times in a far stronger position than ever before.
