Labour warns Govt ahead of budget

Labour has warned the Government not to mortgage the future in an effort to fill the massive shortfall in tax revenue.

The Minister for Finance will deliver his first budget on Tuesday.

With a deficit of €11.5bn this year and what could be €14.7bn next year, the Government is preparing to announce the biggest cut backs since the 1980s.

Former Labour Party Finance Minister Ruairí Quinn has said the global financial situation is not helping, but Ireland is suffering more than other countries.

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