Cowen promises emergency Budget at start of April

The Taoiseach Brian Cowen has told the Dáil that an emergency Budget will be unveiled in the first week of April in response to the continuing deterioration in the public finances.

Yesterday, Mr Cowen accepted that "a combination of revenue raising and expenditure adjustments" would be needed following a further €2bn tax shortfall so far this year.

The Government had previously resisted calls for the introduction of a mini-budget to raise taxes.

Speaking in the Dáil this morning, Mr Cowen said he and his colleagues would take whatever decisions were necessary to plug the hole in the public finances.