Lenihan insists Budget date will not be brought forward

Finance Minister Brian is ruling out bringing the Budget forward in a bid to bring stability to the markets.

The bonds of some eurozone countries including Ireland have remained under pressure due to fears about a possible new permanent debt restructuring mechanism for the euro zone.

This morning, the interest rate on Irish 10-year bonds is hovering around 7.4%. However the National Treasury Management Agency has suspended borrowing any money until next January.

Minister Lenihan said this morning there is no change to when the Budget will be.

"The Budget has been fixed for December 7 for some time," he said.

"The month of November is a very important month for tax receipts and we need to know exactly what our tax receipts are before we announce the final details of the Budget.

"In relation to markets being jittery - we're not in the markets at the moment."

The Cabinet is meeting today to discuss the upcoming Budget with the final figures as to the level of correction needed for 2011 expected to be released tomorrow.