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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/economy-set-for-return-to-growth.jpg"><img class="alignnone size-full" title="Ireland's finance minister Brian Lenihan said the country will return to growth" src="http://londonglossy.com/wp-content/uploads/2010/12/min-economy-set-for-return-to-growth.jpg" alt="Ireland's finance minister Brian Lenihan said the country will return to growth"/></a></p>
<p>Irish finance minister Brian Lenihan has claimed the country&#8217;s economy will grow slightly this year as he unveiled 6 billion euro (£5 billion) savings in the most draconian budget in the history of the state.</p>
<p>&#8220;Our actions to stabilise the public finances have made progress,&#8221; the minister said.</p>
<p>Mr Lenihan said Exchequer figures paint a picture of a country returning to growth after a prolonged and deep recession.</p>
<p>Opening his budget 2011 speech, he told the Irish Parliament that the economy, as measured by gross domestic product, would increase by an average of 2.75% by 2014.</p>
<p>Mr Lenihan said Ireland needed the help of the International Monetary Fund to break the vicious cycle that threatened the national finances and banking system.</p>
<p>&#8220;Without this support, there would have been serious doubts about the ability of the state to raise funds at reasonable cost to pay for key public services and to provide a functioning banking system to support economic activity,&#8221; he said.</p>
<p>&#8220;That is the reality.&#8221;</p>
<p>Setting out the many dramatic reforms facing Irish workers, families and the unemployed, the minister said the old age state pension would not be touched.</p>
<p>But he warned over the next few years there will be further social welfare cuts.</p>
<p>The Budget also includes plans to make a 10 euro (£6.40) reduction in the lower and higher child benefit rates.</p>
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