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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.


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