Estimates softened us for Budget

THE only thing that can be said with certainty about Wednesday’s Budget is it promises to be the most difficult day of Finance Minister Charlie McCreevy’s ministry as he faces the reality of borrowing money to balance the books.

Having been criticised, and rightly so, for mismanaging the economy when times were good, the major challenge facing Mr McCreevy is to bring expenditure back on track. Spending on public services spiralled out of control in a cynical vote-buying spree before the May general election.

While global retrenchment can be blamed for a slowdown in the economy, the government must carry the can for squandering the largesse of the Celtic Tiger era, heavily contributing to the aura of doom and gloom now engulfing the country.