Budget will aim to get savers spending

THE Government is formulating plans to encourage savers to dip into their reserves and help the country spend its way to recovery.

As part of its plans to shape the December budget the Cabinet met for a full day session at Farmleigh yesterday to discuss the source of €3 billion in spending cuts.

But a prominent theme in the discussions was the need for measures to encourage people to stop hoarding cash and start putting money into the economy. No specific proposals have been circulated. However, the notion of schemes to stimulate spending has been agreed.