Ireland Relies on ‘Sugar Daddy’ for Budget Support: Euro Credit
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Among his supporters in the southwest of Ireland, lawmaker Jackie Healy-Rae is known as the “Sugar Daddy” for championing his region. Now Irish Prime Minister Brian Cowen may depend on his former political ally to pass next year’s budget and keep international patrons sweet.
The government will lay out details tomorrow of 6 billion euros ($7.9 billion) of spending cuts and tax increases. Cowen’s Fianna Fail party has a minority of seats in parliament and may need the backing of independents such as Healy-Rae and Michael Lowry. They have yet to declare support for the budget.