Cowen: State to correct budget deficit of €16bn
The Taoiseach Brian Cowen has said the State has to correct a budget deficit of 8% or €16bn.
Brian Cowen says the country is facing a scenario where we have 2010 expenditure with 2003 income.
He was speaking following the sixth Cabinet meeting in two weeks as the Government prepares for the supplementary Budget on April 7.
The Taoiseach said the scale of the challenge will be difficult.
