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Brian Cowen has warned that the budget should not be seen as the 'silver bullet' for the country's economic woes (Photo: The Council of the European Union)

Ireland to annouce harsh budget

The Irish government is Tuesday (7 April) expected to announce the harshest budget in the history of the state to try and get the economy back on track as it continues to suffer from the fallout of the global financial crisis.

The budget is expected to contain €3.5 billion of new taxes and spending cuts, and is aimed at restored international confidence in the battered Irish economy, previously famed in its 'Celtic Tiger' days as a model for others.

Recent figures suggest unemploy...

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Brian Cowen has warned that the budget should not be seen as the 'silver bullet' for the country's economic woes (Photo: The Council of the European Union)

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