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State to correct budget deficit of 8% - Cowen

The Taoiseach says the State has to correct a budget deficit of eight per cent or €16bn.

Brian Cowen says the country is facing a scenario where we have 2010 expenditure with 2003 income.

He was speaking following the 6th Cabinet meeting in two weeks as the Government prepares for the supplementary Budget on April 7.

The Taoiseach said the scale of the challenge will be difficult.

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