The Economic and Social Research Institute wants the budget deficit cleared in three years.
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In it’s latest Quarterly Economic Commentary – the ESRI is urging the Government to aim for a target of zero per cent by 2014 – instead of 3 per cent by 2015.
The economic think tank is recommending tax increases and greater public spending cuts – to reduce the 18 billion euro deficit quicker.
Research Professor Joe Durkan is also calling for an average public sector pay cut of 10 per cent – and the scrapping of the Croke Park Agreement – as it has delivered little:
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