Cowen to act on €2bn cuts ‘with or without’ union deal

TAOISEACH Brian Cowen has warned he will act with or without the co-operation of the social partners to keep the national finances from going over the brink.

Speaking in Tokyo, where he is leading a week-long trade mission to Japan, Mr Cowen said he will continue to talk to the social partners about the proposed cuts of €2 billion from this year’s spending figures.

The cuts, strongly criticised by trade unions, were needed due to the rapid shortfall in tax revenues. Asked if he had “the bottle” to implement the spending cuts, Mr Cowen said: “We will take whatever decisions that are necessary — that’s what we have to do in the interest of the country.”