DUBLIN — The Irish government announced plans for steep tax increases and sharp cutbacks in its social welfare state and public spending on Wednesday. The austerity measures are meant to help secure an international bailout and to pay for a severe banking crisis that has depleted the country’s finances. The plan, which would slash public spending by 15 billion euros ($20 billion) over four years came as the embattled government prepared to effectively nationalize two troubled banks that have bled the state of money, and Standard & Poor’s lowered Ireland’s credit rating, citing concerns about the how much the government was borrowing and about the vast amounts needed to shore up the country’s banking system.
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