IBEC slams tax increases

Turlough O’Sullivan, Director General of IBEC, has said that the Minister for Finance should have made more cuts in spending rather than increasing taxes in today's Budget.

Mr O'Sullivan said: "Business recognises the need to take corrective measures to stabilise our public finances. Nevertheless, in the Minister’s efforts to achieve this, IBEC would have preferred a greater emphasis on cutting current expenditure rather than on increasing taxation.