Main proposals in the IBEC pre-budget submission

• Personal tax cuts worth €700 million, including increasing tax bands and credits and new credits for childcare expenses.

• Tightly controlled day-to-day spending and a focus on public service reform, that would ultimately lead to a 10,000 reduction in public service workers, and the introduction of new systems designed to boost the efficiency of service delivery.

• Increased spending on infrastructure that will prioritise roads, public transport and waste disposal, including the construction of four incinerators.

• A renewed commitment to maintaining the 12.5 per cent corporate tax rate and reductions in VAT designed to bring the State average of 21 per cent down to the European average of 17.5 per cent.

• A reduction in taxes and duties on alcoholic drink, which IBEC says have failed to deliver their projected revenues.