The government plans to present Budget 2011on October 25 or 27, sources said yesterday.

The preferred day is the 25th, with the 27th being an alternative just in case the Budget has to be moved at the last minute.

Finance Minister Tonio Fenech has set the government’s priority for next year as fiscal consolidation, without, however, going for overzealous spending cuts which might harm the economic recovery. The aim is to trim about €50 million in expenditure to target a deficit below three per cent of GDP.

The Minister is currently holding meetings with individual ministries while consultation meetings with the public will start next week.

Last year, Budget 2010 was presented on November 9.

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