Minister for Finance Michael Noonan is expected to announce detailed plans for spending cuts and tax increases for the next three years in October.
The move is intended to allay market concern over the country's economic recovery and to give certainty to consumers.
According to a report in today's Sunday Business Post, Mr Noonan will publish a pre-budget outlook document in October.
The planned adjustment package in next December’s budget may be more than the €3.6 billion already flagged by the Minister.
Despite the easing of the EU-IMF bailout terms, Mr Noonan has said the target was to bring the deficit down to 8.6 per cent of GDP next year, and that would require an adjustment of at least €3.6 billion.
However, he warned he would not be tied down to the figure of €3.6 billion as there was still adebate over whether it would be enough to achieve the 8.6 per cent target.
On Friday, Mr Noonan said the plans for bilateral negotiations between France and Germany on their tax rate would have no effect on Ireland’s corporation tax rate.
He also expressed concerns about a proposal for a tax on all EU financial transactions, saying there would be objections to it from a number of member states.
His comments come in the wake of calls from Berlin and Paris for “real economic governance” and a pan-EU financial transaction tax.
