Senior Minister Says Budget Agreement Has Been Struck

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The Transport Minister says the coalition has reached agreement on next year’s Budget.

The Cabinet met in private last night to iron out the details, with rumours of a division between Labour and Fine Gael over the Health Minister James Reilly.

It’s reported today that Education Minister Ruairi Quinn has told a behind-closed-doors meeting that it’s the shared view of Labour TDs and some Cabinet members that Minister Reilly is not up to the job and should go.

Reports also suggest that a so called "mansion tax" has been agreed for the Budget to be announced on Wednesday – that would see a higher rate of the property tax applied to houses worth over 1-million euro.

Transport Minister Leo Varadkar is keeping tight-lipped about the details of the Budget and he says the exact figures for taxes in 2013 won’t be signed off on until Wednesday morning.