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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/country-awaits-most-feared-budget.jpg"><img class="alignnone size-full" title="Brian Cowen's coalition will try to impose the cuts with only a two-seat majority" src="http://londonglossy.com/wp-content/uploads/2010/12/min-country-awaits-most-feared-budget.jpg" alt="Brian Cowen's coalition will try to impose the cuts with only a two-seat majority"/></a></p>
<p>Ireland is bracing itself as the Government prepares to unveil the most feared budget in living memory.</p>
<p>The massive six billion euro (£5 billion) cost-cutting package is expected to slash social welfare, including jobseekers and child benefit, in a bid to cut public spending.</p>
<p>Speculation has mounted that public sector wages will be capped and ministers&#8217; salaries cut as the government takes on a four-year battle to restore the state&#8217;s crippled finances.</p>
<p>Public spending will be reduced by 4.5 billion euro (£3.8 billion) while taxes will raise an extra 1.5 billion euro (£1.3 billion).</p>
<p>Irish prime minister Brian Cowen&#8217;s shaky coalition will try to impose the cuts with only a two-seat majority. But the embattled government received a boost after an independent member of the parliament, whose support is crucial, said he would back the cuts.</p>
<p>Michael Lowry, Tipperary North TD, said he would put the country first despite a potential backlash from his constituents.</p>
<p>The veteran politician said that after talks with the government he was satisfied that the old-age pension would be protected, along with free travel and electricity for the elderly.</p>
<p>Mr Lowry said his fellow backbench independent, Kerry&#8217;s Jackie Healy-Rae, was also expected to back the budget, due to be unveiled in the Dail by finance minister Brian Lenihan mid-afternoon.</p>
<p>The potentially savage package comes just over a week after the government revealed it was taking an 85 billion euro (£72 billion) bailout from the International Monetary Fund/Europe.</p>
<p>Mr Cowen&#8217;s crippled coalition government has suffered widespread criticism for the move by a public angry at the perceived surrender of the state&#8217;s hard-won economic sovereignty.</p>
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