A taste of what could be coming down the tracks

HINTS from Brussels that Ireland can no longer enjoy such a low corporation tax rate – previously a red line which the Irish Government vowed never to cross – gives a taste of just how different the budget approach could be once the EU takes charge.

There is now believed to be a 50-50 chance that Ireland may have to access an EU fund to rescue countries suffering severe crisis to prevent any eurozone member going into default.

The opposition believes the Government has already indicated to the EU, if not agreed the details with them, of a four-year budgetary framework.