Tax cuts in the budget later this month have again been signalled by Minister for Finance Michael Noonan.

He told the Dáil today that with the budget only two weeks away, he was not prepared to be drawn into speculation on specific measures.

“However, I will say that, as part of the normal budgetary preparation, I am currently examining potential options for changes to the tax system as part of the overall budget package to be agreed by Government,” he added.

The Minister was replying to questions from Fianna Fáil finance spokesman Michael McGrath and Sinn Féin spokesman Pearse Doherty. Mr Noonan said the budget would be "broadly neutral".

The Minister said the opening position last April was that an adjustment of €2 billion was required to get the deficit below 3 per cent.

As the budgetary position improved over the year, the level of adjustment estimated by his officials began to narrow and was currently at the point where there would be roughly enough money in the exchequer to run the country on the basis of no budget and policy change in 2015.