Noonan set to ease up on €3.1bn adjustment

Finance Minister Michael Noonan has signalled he will consider easing up on the €3.1bn budget adjustment planned for next year.

Writing in today’s Irish Examiner, he said the target of getting the budget deficit to 5% of GDP in 2014 will be adhered to.

However, he said the actual sum of spending cuts and tax hikes will be decided on closer to the October budget day when all the economic data — expected to indicate the Government will surpass that target — is taken into account.