McCarthy: No choice but to cut public pay and welfare

The author of the 'An Bord Snip Nua' report has said that the economy is in a worse state now than when the document was released in July.

Economist Colm McCarthy, head of the Special Group on Public Service Numbers and Expenditure Programmes, as the advisory committee that produced the report was titled, today told the Oireachtas Finance Committee that tax income has plummeted further since the report was drawn up.