Cabinet to discuss tax hikes in forthcoming Budget
The Cabinet is set to discuss details of the forthcoming emergency Budget when it holds its regular weekly meeting in Dublin this morning.
Increases in income tax are expected to be high on the agenda as the Government struggles to plug a deepening hole in the public finances.
There have already been reports that the Coalition is considering increasing the two existing tax rates by two percentage points each.
The creation of a new 48% tax rate for high earners is also believed to be under discussion, as well as increases in duties on petrol, diesel, cigarettes and alcohol.
The Budget is due to be presented in the first week of April.
