Squeaky bum time...

Alex Ferguson once described the last few weeks of the football season as "squeaky bum time" and that elegant phrase can be applied to what' s going on in Government right now. Brian Lenihan wants to hear by the end of this month from each Minister what cuts they're offering him for 2011 - he's putting on the pressure much earlier than usual which reflects the fact that he wants to know that these savings will really be delivered for the whole of next year.

The Minister has been clear that he's going to reduce the deficit by a further 3bn euro this year with 1bn of that coming from cuts in capital spending and 2bn from current spending cuts and/or tax increases. He has not been a fan of straightforward income tax rises so the 2bn is likely to come from measures to "broaden the tax base" - ie getting something from lower paid people who currently escape income tax and possibly from things like water charges or a new property tax.

Trying to find 2bn euro with no increases in income tax rates and no public sector pay cuts (if the Croke Park deal is eventually passed) is no easy task so no other area of Government spending can be regarded as safe from the axe. Minister Eamon O Cuiv's reference to cutting or means testing the holy grail of the old age pension has certainly focussed minds. What do you think ? Is the idea of a universal state pension which is paid no matter how rich the recipient may be just unaffordable ? Or is it unthinkable that senior citizens would be touched especially when many of them have spent a working life making PRSI contributions ?

We'll be discussing cutting and taxing tonight in the company of Government, opposition, economists and those directly affected.

Also, are you outraged at the notion that the other EU finance ministers will have the right to scrutinise and demand changes in our budgets before they're presented to the Dail. Fine Gael regards it as a diminution of our sovereignty and Governments in France and Germany were shocked at the suggestion this week too. But is it inevitable that if we're in a monetary union with 14 other European countries in which each will have to participate in a bailout of any country that goes off the rails, then we'll all have to have a say in what each other is doing ? Is it an outrage that other EU countries might tell us what to do in our budget each year ? Or would you sleep sounder knowing that our own politicians won't find it as easy to run amok with the national finances?

Tell us what you think on either of these subjects by emailing thefrontline@rte.ie or posting a comment below. Enjoy the show.