Cabinet to hold further talks on Budget cutbacks

The forthcoming budget will be top of the agenda when the Cabinet meets in Dublin this morning for its regular meeting.

Government ministers held a special meeting at the weekend to discuss how to balance the books following this year's massive deterioration in the public finances.

Up to €1.5bn in cutbacks are understood to be on the way on top of the spending reductions already announced earlier this year.

The Government may also be forced to borrow large sums of money as ministers have been playing down talks of possible tax increases to boost falling revenues.

A further series of meetings to finalise the various options are due to be held before the Budget is unveiled in two weeks' time.

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