Cowen: Budget to focus on spending cuts

Taoiseach Brian Cowen has said that December's Budget will be more about spending cuts than tax hikes, and will be the most severe of the four-year deficit reduction plan.

Mr Cowen's comments came as a two-day Dáil debate on the economy got underway following the Government's announcement that some €15bn of savings need to be secured to bring the budget deficit under 3% of GDP by 2014.