The General Secretary of the Irish Congress of Trade Unions, David Begg, said today that the Government can afford to run a short term deficit to balance its books in December's Budget.
He said there would no down side to borrowing and that it was essential for the Government to underpin consumer confidence and to encourage spending by delivering tax cuts in the budget.
Launching the ICTU pre-budget submission, Mr Begg said the Government should not allow current difficulties in the global economy to deflect it from staying on course to achieve a prosperous and social cohesive society.
He said that if people have more money in their pockets they would be more likely to spend it, thus increasing demand in the economy and helping to save jobs.
ICTU is looking for substantially increased personal and PAYE tax credits in the budget and real increases in social welfare payments over and above inflation.
