Dublin's Chamber of Commerce last week urged Irish Finance Minister, Charlie McCreevy to reduce public expenditure by freezing public sector recruitment from January of next year.
In its pre-budget submission, the business body also pleaded with the Finance Minister not to introduce any new taxes.
The Chamber of Commerce went on to recommend that public spending growth be reined in to not more than 7% in 2003, but strongly recommended that investment in major capital projects designed to improve the Republic's infrastructure continue, citing communications, waste management, and transport as the areas most in need of government investment.
RTE OnBusiness also quoted Chief Executive, Gina Quin as suggesting that borrowing for projects expected to bring positive returns to the economy was still an option open to McCreevy.
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