Some leeway on Budget due to €1bn promissory note savings, says Hayes

Some leeway on Budget due to €1bn promissory note savings, says Hayes

Junior Finance Minister Brian Hayes has said there is leeway for the Government in devising next year's Budget.

Minister Hayes was responding to reports today that the Government and the Troika have clashed on the issue.

It comes following the savings of €1bn this year due to the deal on the promissory notes, money which the IMF and ECB want to see saved, and not used as wriggle-room.

But Minister Hayes cautioned that it is still early days.

"There is lee-way because of the savings under the promissory note which is about €1bn," he said.

"But the question is this: 'What are we going to do to help the domestic economy if the Budget is going to be successful, which I suspect it will.

"But I think it's too early to anticipate what the adjustment's going to be as to whether it's €2.1bn or €3.1bn - it's too early to come to an assessment about that."

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