FG accuses FF of creating budget black hole of €6bn

FINE Gael yesterday claimed that it had discovered a “black hole” of almost €6 billion in Fianna Fáil’s election promises.

In a withering attack on Tánaiste Brian Cowen’s pre-Budget forecast, FG deputy leader Richard Bruton claimed that the Finance Minister had changed his tune since the election to the value of a cool €6bn.

“In May, the Minister for Finance published his forecast for the economy and predicted a strong stream of extra tax revenue. Now five months later he has cut his growth projection for the first three years of his term by 28% and made even deeper cuts in his projection for tax growth.