McCreevy takes axe to public spending

FINANCE Minister Charlie McCreevy will today unveil tough cutbacks in efforts to abruptly halt runaway public spending in one fell swoop.

Mr McCreevy will detail pared-down public spending plans for 2003, which will hark back to the dark days of the late 1980s.

The so-called Estimates, which chart spending worth almost €38bn in all Government sectors, will also confirm the Budget in three weeks time is to be the toughest in a decade.