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Article: Ireland seeks to bring Celtic Tiger spending under control, plans tightest budget for a decade
- Article from:
- AP Worldstream
- Article date:
- November 14, 2002
- Author:
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Dateline: DUBLIN, Ireland
Ireland's government announced Thursday it will slash spending to
cope with the waning of its vaunted Celtic Tiger economy.
Finance Minister Charlie McCreevy said 2003 spending would rise by
less than 2 percent to 37.6 billion euros (US$37.6 billion), a stunning
turnaround from the double-digit annual increases of recent years
fueled by record tax receipts on the back of an unprecedented boom.
"It's about making choices, and we're making the hard choices now
in order to protect us into the future," McCreevy said. "I think we
should learn from the mistakes we've made in the past."
Opposition politicians and economists noted ...