Lenihan: Budget cuts well above €3bn

BUDGET cuts will be “well above” €3 billion, Brian Lenihan admitted, as a new poll showed the public have more faith in the “outside forces” of the IMF or EU to solve Ireland’s economic problems than they do in the finance minister or opposition parties.

As speculation grew that cuts would amount to €4.3bn, Mr Lenihan gave his strongest indication yet that it will be close to that figure and called for a “united national effort” in solving the crisis.

Speaking from Washington, he rejected calls for a national government, saying it would be impossible to put one in place before mid-November when a four-year budget plan will be put to the European Commission.