Cutting teaching posts is political cowardice

THE countdown to Budget 2012 has now begun in earnest. Last Friday the Minister for Finance laid out broad fiscal parameters for the period 2012-2015.

Based on conservative, and hopefully realisable growth forecasts, the Government aims to deliver a package of €12.4 billion in fiscal austerity over the period.

It is intended that expenditure reductions will account for 62.5% of this massive fiscal adjustment, with tax and revenue-raising measures accounting for the rest. In 2012 the correction will be in the region of €3.8bn, with €1.6bn coming in tax and revenue-raising measures.