TAOISEACH BRIAN Cowen refused to be drawn in the Dáil on whether the Government would introduce a further budget.

He was replying to Labour leader Eamon Gilmore, who asked: “Will we see, before the end of March, a new budget? Or are we going to see the publication of new departmental estimates before the end of March?”

Mr Cowen replied: “I cannot anticipate the decision, but I think it will be, in my view, a combination of revenue-raising and expenditure adjustments.”

Pressed on the issue by Mr Gilmore, the Taoiseach urged the Labour leader to be “fair” in all the circumstances.

“We got the exchequer returns today for the end of February. We have indicated that we will . . . make political decisions, based on what is emerging to ensure that we will come in with a 9.5 per cent deficit at the end of the year.”

Earlier, Fine Gael leader Enda Kenny said he would have expected the Taoiseach to tell the House what decisions had been taken by the Government.

“The problem, across the country, is that nobody can now plan for their future . . . No business can plan for investment because it does not have any plan or strategy from Government.”

Mr Kenny said that it was necessary to face the reality that the State’s public finances were under extreme pressure.

“What is needed is a budget that is fair, comprehensive and that covers all the sectors, so that people can buy into it . . . If they know the scale of the problem, and they know their contribution is going some way towards dealing with that, people are prepared to get back to a point of having some confidence . . . where now there is none.”

Mr Kenny said it was the Taoiseach’s duty to set out the financial landscape for the next three to five years. “And that landscape, at the moment is bleak . . . so, therefore, people have no capacity to have confidence to invest or to spend.” That, he added, was what was causing the crisis in confidence, both in personal and business lives.

Mr Cowen said it was clear that tax revenues were under pressure already. “The decision the Government has taken, relating to these figures today, is that we are saying that we must stick within the fiscal strategy we have set ourselves.”

Mr Cowen said the Government had taken a decision that “we will take whatever adjustments that are necessary to meet the emerging deficits for this year’s figures by the end of this month”.

The Government had just received the figures and it must consider them and come up with a plan, he said.

Referring to the weekend Fianna Fáil ardfheis, Mr Kenny suggested that the Taoiseach’s job was not just to calm the nerves of his own party and its members, but also to reassure the Irish people about their future economic prospects.

“To date, with respect, your Government has not shown any competence to do that . . . Every time a financial target is set by the Government, it has been way off target,” he said.

Mr Cowen replied that what he had to say at the weekend was addressed to the Irish people.

The exchequer returns were disappointing, he said, adding it was clear that tax revenues this year were under pressure. “We are in a very serious situation, as we have been outlining”.

Mr Cowen repeated that the Government would take whatever steps were necessary, by the end of the month, to ensure the framework set would be adhered to.

The Government, he added, was committed to restoring the public finances to a sustainable position.