Ireland had EU's largest deficit last year

Ireland had EU's largest deficit last year

New figures out today show that Ireland had the largest government deficit in the EU at the end of last year.

Irish debt levels were at 14.4% of GDP, followed closely by the UK which registered a debt of 11.4%.

No member state in the EU recorded a surplus last year, but Luxembourg, Sweden and Estonia all had the lowest deficits.

The Government aims to bring Ireland's deficit from 14.4% down to 3% of GDP within four years with a major programme of cutbacks and tax increases.

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