The Exchequer returns for last month will be published this afternoon and will confirm the state of the economy on the eve of Budget Day.
Hopes of Ireland benefiting from the deal reached on Greece’s long-term debt were dashed yesterday when both France and Germany ruled out similar relief to ease Ireland’s national debt.
It became clear that the Eurogroup of finance ministers were not prepared to extend the same terms to Ireland and Portugal as had been agreed to manage Greece’s long-term debts.
The Minister for Finance Michael Noonan had said the Government would be interested in looking at elements of the Greek deal to see if they would help Ireland.
The release of November’s Exchequer returns are regarded as the most important among financial returns of the year. They will give a strong indication of how the economy is performing.
During his Budget speech in the Dáil tomorrow afternoon, Mr Noonan is expected to announce €3.5 billion of cuts and tax increases.
The announcement will end weeks of speculation about changes to property and motor tax, child benefit, PRSI and social welfare benefits.