Many economists have said that Ireland's latest budget is the most painful that has been seen in over a generation, as the country made a 4 Billion Euros ($6 Billion) cut in spending in order to control the nation's mounting debt.

"Notwithstanding the difficulties of the last eight months, we are now on the road to economic recovery", Finance Minister Brian Lenihan told Parliament, while detailing the cuts and also introducing measures to tax the nation's wealthy population. He stresses that the economy would return to growth over the coming 6 to 9 months, and the GDP would contract by nearly 1.25% in
2010, after shrinking for an estimated 7.5% in the current year.

As per the budget, 760 Million Euros have been cut from social-welfare programs, and 980 Million Euros have been pulled away from day-to-day spending. Also, Mr. Lenihan is all set to introduce
960 Million Euros in savings on investment projects and cut back on 1 Billion Euros from public-service payrolls.

Experts are of the opinion that while the cuts would most likely please Brussels, the voters might just be alienated.