Labour insists EU/IMF plan can be renegotiated

LABOUR rubber-stamped its plan to shake up the crippling EU/IMF bailout deal with plans to rake in savings of €7 billion through taxes and cuts.

Measures proposed at the party’s economic growth plan yesterday included savings in pay, spending and department budgets as well as furthering taxes through pension reliefs, VAT and property.

Party leader Eamon Gilmore said surgery on the economy was needed, not butchery, and pushing out the completion date of the EU/IMF bailout to 2016 would reduce the pain for Ireland and therefore help growth.