Cowen to review borrowing target again
Taoiseach Brian Cowen has indicated that the Government may exceed its own borrowing target this year due to the continued deterioration in the public finances.
The Government has previously been insisting that the 9.5% target set in January would not be breached.
However, Brian Cowen said in the Dáil this morning that the Government would only seek to be as close as possible to this target "in the context of what's best for the economy".
His statement prompted sharp criticism from the Opposition, who said this was the fourth time the Government has adjusted its target, with Eamon Gilmore accusing Cowen of being irresponsible in his management of the public finances.
Cowen said the important target was to reduce borrowing to the EU limit of 3% by 2013, as promised in an economic plan presented to the European Commission.
