€15bn cuts but political gravy train unaffected

EU Commissioner Ollie Rehn has been – he came, he saw and he didn’t quite conquer us but he did tell us €15 billion over four years might not be enough.

Only two months ago our highly-paid resident experts were telling us that only €7.5bn had to be cut. And now after all has been said and done, our targets are once again being questioned.

The budget is now but a few short weeks away. Depending on who you listen to, the budget is going to help to sort out our banks and reduce our deficits while encouraging growth of 1.75% or alternatively is going to do down the economy by taking too much expenditure out of it.