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		</div><p><a href="http://londonglossy.com/wp-content/uploads/2010/12/young-hit-in-5bn-irish-budget-cuts.jpg"><img class="alignnone size-full" title="Brian Lenihan said the country is in line for a return to growth" src="http://londonglossy.com/wp-content/uploads/2010/12/min-young-hit-in-5bn-irish-budget-cuts.jpg" alt="Brian Lenihan said the country is in line for a return to growth"/></a></p>
<p>Young families, the unemployed and middle income earners have been left holding the bill for Ireland&#8217;s banking binge after a six billion euro (£5 million) austerity budget was unveiled.</p>
<p>Cuts to child benefit alongside income tax reform will leave average families thousands of euro less well off, while weekly payments to social welfare recipients will be slashed.</p>
<p>Taoiseach Brian Cowen will remain among the best paid leaders in the world even after a 14,000 euro (£11,800) pay cut, and the government was damned for refusing to hike taxes on the wealthiest.</p>
<p>Finance minister Brian Lenihan insisted the Fianna Fail/Green coalition had recognised its past mistakes and is now putting the country on the road to recovery.</p>
<p>&#8220;This budget is our first step in ensuring that we can get back firmly on our own feet,&#8221; he said.</p>
<p>&#8220;It is a substantial down payment on the journey back to economic health. We can emerge from this dark time as a stronger and fitter economy to provide sustainable jobs and decent public services for all our citizens.&#8221;</p>
<p>But the Opposition, trade union leaders, anti-poverty campaigners, children&#8217;s rights organisations and others denounced the draconian package as an attack on the poor, middle income earners and the vulnerable.</p>
<p>Emergency sittings will attempt to fast-track the reforms through the Irish parliament this week and into the early days of the new year.</p>
<p>The coalition will then face the wrath of voters with a general election expected in February or March.</p>
<p>The only groups to escape the savage Budget were the elderly on the state pension and the super-rich &#8211; the tax breaks they use will go, but not immediately.</p>
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