The Irish government has announced plans to make 15 billion Euros in budget cuts to reduce the country's deficit and outlined the effective date of the cuts.
In what has been described as "a significant frontloading," the government said it would cut 6 billion Euros in 2011 aimed at reducing the deficit to 9.25%-9.5% of the GDP (Gross Domestic Product), reported the state-run BBC on Thursday.
By 2014, the Emerald Isle's government plans to bring down the deficit to as far down as 3% of the GDP.
The government says savings would be made through spending cuts and higher taxes, thus improving the living standards of all its citizens.'
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