And delaying payment can force borrowers to stay in debt later into adulthood.

WSJ: Weighing Merits of Loan Deferments Today to Keep Defaults Away

Although the budget does contain meat, some measures are simply sauce, such as moving three national holidays, delaying the payment of retirement gratuities to civil servants and threatening to withhold Christmas bonuses from underperforming public employees.

ECONOMIST: Italy��s economy

"The threat of mass non-payment of water charges has forced the DUP and Sinn Fein to negotiate the delaying of the charges, " he said.

BBC: NEWS | UK | Northern Ireland | Water bills 'on hold' after deal