Ireland announced tough austerity measures today as it seeks to claw back financial credibility after having had to accept an EU/IMF bailout.

The measures include a €14,000 pay cut for the prime minister, who earns €228,466.

Here are some of the key reforms of Budget 2011 at-a-glance.

:: Pay cuts of up to 14,000 euro for the Taoiseach and of 10,00 euro for ministers. The Taoiseach currently earns 228,466 euro , down from 285,583 euro last year.

:: Social welfare payments to be cut by 4%.

:: A cut of 10 euro (£8.40) a month in child benefit for the first and second child and an additional cut of 10 euro for a third child.

:: The income, PRSI and health levies to be merged into a single social contribution charge payable on all income.

:: The state pension and Corporation Tax remain unchanged.

:: 4% cut in all public sector pensions above 12,000 euro a year.

:: A 250,000 euro (£210,000) cap on salaries for senior public servants and heads of semi-state bodies, including the President.

:: A 10% lower starting rate for new employees in the public sector, including judges.

:: The travel tax to be cut from 10 euro (£8.45) to 3 euro from March 1, 2011 until the end of the year.

:: A 40 euro (£34) payment will be given to each household in receipt of fuel allowance to help fight the cold snap, at a cost of 14 million euro.

:: Households receiving a fuel allowance payment will get 40 euro

:: Reform of state cars with former Taoisigh and Presidents given a pooled system with the number of garda drivers cut.

:: Immediate reform of stamp duty.

:: The Gulf Stream Government jet, which is at the end of its life span, will not be replaced.

:: An increase in the excise duty on petrol by 4 cent and diesel by 2 cent by midnight.

:: Alcohol and cigarettes are untouched until next year.

:: Elimination of 25 tax breaks, including all property based relief by 2014.

:: Abolition of the 75,000 euro ceiling for employee PRSI contributions.

:: 200m euro provided for training and work placement supports for the unemployed.