The Irish Business and Employers Confederation has described today's Budget as a "turning point".
IBEC's Danny McCoy said: "This Budget is a turning point as it stops the deficit rising and puts Ireland on a sustainable path.
"The right thing to do is the hard thing to do, and the right thing has been done. Confidence can now be restored, both to consumers and to international investors.
"In getting the country back to work, it is crucial that the public finances are stabilised without major increases in taxation."