The outlines of the next budget have emerged in an update of the EU/IMF programme for Ireland.

In an updated document posted on the Department of Finance website, €1.5bn will be raised by way of increased taxation and €2.1bn from expenditure cuts.

It says there will be a reduction in private pension tax reliefs, a property tax and reform of capital gains and capital acquisition tax.

It confirms an increase in the carbon tax, which was included in the State's four-year plan.

Spending cuts will include ‘social expenditure reductions’, it says.

There will be a cut in the number of workers in the public service and public service pension reductions.