Homeowners and welfare recipients hit

HOMEOWNERS will be hit with a new “local services charge”, welfare recipients will see payments cut and the minimum wage will be slashed for the lowest-paid workers under the four-year deficit reduction plan to be published today.

Improving competitiveness and fostering economic growth will be the key goals of the Government plan, but it will come at the cost of spending cuts and tax hikes totalling €15bn in order to reduce the deficit to EU-required levels by 2014.

The plan will include: