The Four Year Plan is due to be published today – at 2pm , It is expected to propose reductions of almost €3 billion in the social welfare budget over the next four years.
The actual cuts for 2011 will be in the 2011 Budget due on December 7th .
As with the previous Budget – it looks like the State Pension will be untouched.
The 160-page plan – which will set out €15 billion of savings over the next four years, will be published at 2pm. It will cover current spending; capital spending; taxes; potential areas for economic growth; as well as a chapter on reform.
It is expected that the marginal rate of tax will return to 42 per cent or higher and that tax credits will be reduced and tax bands will be widened.
A new Council Tax / Property tax of about €300 a year will probably be introduced in 2012 – 2013.