Harney rules out top rate tax cut

The Tanaiste Mary Harney has ruled out any cut in the top rate of tax in December's budget.

Speaking in Galway, Mary Harney indicated that the economic conditions are not suitable for a slash in the top rate.

The Tanaiste says the Government will focus on the lower paid, including removing those on minimum wage from the tax net.

Her comments come as the latest exchequer returns from the Department of Finance show the slowing-down of the Irish economy, with this year's surplus likely to be £2bn less than expected.