GDP growth could be just 0.75%

TAXPAYERS could be set for a further round of savage cuts after the latest economic forecast significantly downgraded expected growth levels over the next two years.

A worrying Department of Finance update has predicted that growth based on gross domestic product rates will be just 0.75% this year.

The figure is a full percentage point lower than the 1.75% level outlined in December’s controversial budget by the previous Fianna Fáil-led government.