New IMF list of cuts hits our pocket even harder
PENSIONERS, parents and homeowners are targeted in a stinging new report by the IMF.
The international monetary watchdog recommends a host of new taxes and cutbacks which would hurt ordinary households in the pocket.
But Finance Minister Michael Noonan said he would not follow their recommendation to impose a penal property tax.
Mr Noonan, who must find another €3.5bn when he announces the Budget in December, tried to play down the impact of the report.
The IMF wants him to impose:
– Reductions in the old age pension, including the merger of the contributory and non-contributory pension. This would knock €11 off the average weekly contributory pension payment.