But even as Finance Minister Brian Lenihan was putting the finishing touches to his package, experts forecast he would face an additional €3bn shortfall as the economy continues to shrink dramatically.
The 'super tax' -- which will rise to 2pc for higher earners -- will hit all taxpayers and will be deducted from gross income. It differs from a straight increase in income tax rates because it is applied on all earnings and no tax free allowance, bands or credits apply.
Nobody will be spared the brunt of the cuts, but working families face having to swallow the harshest medicine as take-home pay is expected to bear the brunt of the toughest Budget in a generation.
Continue reading from source: Independent.ie
