State could seek budget savings of up to €6bn

THE Government could look to save up to €6 billion in next month’s emergency budget — a dramatic escalation on previous estimates.

But no sooner had a cabinet minister revealed the figure than the Government attempted to play down the issue, insisting a final decision had yet to be taken.

The cabinet held a special meeting yesterday as part of a process to hammer out the package of tax increases and spending cuts that will be introduced in the April 7 budget. Earlier this month, Taoiseach Brian Cowen said the Government would seek to save about €4.5bn in the budget to plug the hole in the public finances.