Income tax rise not ruled out for budget

THE Government is still refusing to rule out income tax increases in the budget after another marathon meeting on Saturday failed to finalise what is likely to be the toughest package of measures since the 1980s.

The Department of Finance stuck to the mantra that “nothing is being ruled out” following the meeting, which ran from 10am to after 4pm.

Speculation is also mounting that the Government will defer some projects under the National Development Plan (NDP) in order to save about €1 billion next year.