Minister admits budget will be toughest yet

The Minister for Finance Charlie McCreevy is warning that December's budget will be his toughest since he took up the post.

The news comes as Minister McCreevy has been defending himself from opposition criticism that spiralling job losses are a result of his economic mis-management.

The latest ESRI report predicts the economy will recover in 2005, but there will be further hard times ahead in the interim.

Minister McCreevy said this afternoon: "Economic growth for next year will not be at the level of recent years."