Budget extravaganza draws criticism from state observers and commentators – The Irish Times

Good morning.

Days when the entire political class wakes up the next morning budget day the hangover is long gone; Leinster House is a more reckless and less obscene place these days; This is both a good and a bad thing.

But two budget ministers, Jack Chambers and Paschal Donohoe, could be forgiven for groaning when they see some of the reviews of their big budget spree this morning.

Our front page is as follows: Criticism from the Irish Financial Advisory Council (Ifac) stated that the 2025 Budget “repeats Ireland’s past mistakes of pumping billions of dollars into the economy while at full employment”.

“Ireland needs a more serious vision that meets the needs of the economy without repeating the boom-to-bust pattern of its past,” Ifac warned in an “abrupt” response.

It said large spending increases would increase inflation, adding an estimated €1,000 to a typical household’s annual spending.

“Major budget packages in recent years have put money back into people’s pockets,” the council said. “But they eliminated that by driving up prices.”

The council also criticized one-off aid, which has been repeated for the third year. “The same supports could have been provided to those most in need at a much lower cost,” he said. Ah.

Worse still, Irish Times economics guru Cliff Taylor argues that “a one-off waste of cash poor use of public money … most of the benefit goes to those who don’t need it. “Households that need support remain dependent on one-off cash for much of it.”

“Temporary measures do not solve permanent problems,” he said, in a tone that suggested sadness rather than anger.

Front-page headline in Hindi: €10bn voter bribe kicks off election race – That’s not the tone Fionnan Sheehan struck. “Morally bankrupt, financially forgetful and openly political,” was his verdict. “Budget 2025 ignores memories, abandons economics and abdicates responsibility.”

Our editorial describes the budget as follows: “inconsistent and short-term”.

The problem with a budget that has already been heavily covered in the media is that people quickly start looking beyond it. Many around Leinster House shrugged their shoulders at yesterday’s big giveaway and wondered: “Meh, what’s next?”

When you consider how fortunate and extraordinary Ireland’s financial situation is to allow for all this generosity, you perhaps wonder whether it is really wise to take it all for granted. But as Jennifer Bray points out, Now all eyes are on the election.

Taoiseach Simon Harris will appear with a group of Fine Gael candidates this morning; This move is unlikely to silence the heated election debates.

Our full budget coverage Here.

Main points at a glance Here.

What is the politics of all this? Giving voters a pile of money a few weeks or months before the election is, of course, better than doing the opposite. It doesn’t guarantee anything. But it definitely doesn’t do any harm.

political analysis Here.

Other important news from Ireland:

Pfizer announced that it will lay off more than 200 people at its facilities in Ireland. It’s a reminder of how dependent Ireland is on multinational corporations, not just for jobs but also for corporation tax revenues, which fuel not only budget grants but also surpluses that enable the Government to be prudent in doling out the money.

Keeping multinationals happy and attracting new investment remains one of the core tasks of any Irish government.

Report by Dominic Coyle Here.

Other important things are happening in the world: Iran has launched a massive missile bombardment against Israel. slide into war continues.

best reads

Miriam Lord’s attend budget day

Keith Duggan Last night’s US vice presidential debate

Michael McDowell Another line developing

Conor Gallagher on Irish troops Eye of the storm in Lebanon

Playbook

Simon Harris starts the day at 9am with a poll of Fine Gael election candidates on St Stephen’s Green. The traditional budget meeting with the two budget ministers takes place via Claire Byrne at 10pm. A series of budget press conferences will be held by Ministers throughout the day and responses from stakeholder groups will be provided.

The Dáil will begin at 10.30am with oral questions to Integration Minister Roderic O’Gorman, followed by Leaders’ Questions at noon. The rest of the day is spent discussing the budget.

The Seanad has a day to debate legislation such as the Motor Insurance Bankruptcy Bill, the Family Courts Bill and the Gambling Regulation Bill.

In committees, the nurses’ union and Siptu discuss the number of staff in the health committee; This is just a hunch, but they may find themselves understaffed. You can find details of other meetings here. Here.

Meanwhile, today we see the beginning of the official visit of the president of the Socialist Republic of Vietnam, Tô Lâm, and his wife, Madame Ngô Phương Ly.

Áras said the visit will begin with an official welcome in Áras an Uachtaráin on Wednesday, followed by a bilateral meeting between the two heads of state. That evening, the President and Sabina Higgins will host a State dinner in honor of President Lâm and Madam Ly. Exciting. There is much to discuss.

Sign up Policy push alerts and get the best news, analysis and commentary delivered straight to your phone