Government to announce how hard people will be hit in 4 year plan

The Government will announce later that it's cutting growth prospects for next year by as much as one per cent - due to the continuing global crisis.

The coalition is also expected to announce savings of 3-point-8 billion euro in the upcoming budget.

We'll also hear the extent of tax hikes and spending cuts necessary over the next three years to eliminate the budget deficit.

Finance Minister Michael Noonan says he hopes the detail will convince people it's not as bad as some are predicting and that they may start spending again