McCreevy warns that Budget will hit taxpayer

FINANCE Minister Charlie McCreevy warned yesterday that the December budget will be a tough one for taxpayers and that job losses in the public service are likely to continue.

The Minister conceded that even his recently revised downward forecast of a minor deficit in the pubic finances was optimistic after a 11% drop in income tax receipts.

He now expects the country’s finances will go into the red for the first time in recent years when the next quarter’s figures become available in the first week in October.