An €8.3 billion budget unveiled by the Dublin government will put the country on a “firm footing for the future”, the finance minister has said.
Jack Chambers said Budget 2025 presented a “unique” opportunity to “plan, transform and deliver for the future”.
The budget includes a wide range of tax reliefs and one-off welfare supports and comes amid mounting speculation that the coalition government in Dublin may move to call a general election before the end of the year.
At the outset of a budget speech to the Dáil, Mr Chambers said the Irish economy was in a strong position.
“The outcomes of the progress made were not inevitable,” he said. “It is a result of the drive and the focus of this government to provide a better future for everyone and in the careful management of our public finances.
“I believe Budget 2025 puts in place the policies and measures to continue this positive trajectory and to ensure that all our people see a promising and hopeful future in this country.
“Today’s budget is my first, and is also a unique in the opportunity it presents to plan, transform and deliver. And that future is not just about next month, the next year or the next decade, it’s about ensuring that children born today in Ireland and every day from here on can live prosperous and fulfil lives.
“They will enjoy better healthcare, live longer, have better education, more housing and significant infrastructure improvements as a result of the decisions made today.”
Mr Chambers used the speech to signal that the Government will use €14.1 billion of backdated taxes due from Apple to address challenges in “housing, energy, water and transport infrastructure”.
The minister also said he was making three billion euro from the sale of the state’s shares in the Allied Irish Banks (AIB) available for infrastructure spending.
Mr Chambers said the Government wanted to give hope to young people that they will be able to afford their own home in the Republic.
“Budget 2025 puts the country on a firm putting for the future,” he said.
“Progressivity, fairness and catalysing real opportunity for the future have been at the core of this government’s budgets and these principles have been central to how Budget 2025 was being designed.
“Strengthening communities, building prosperity, tackling the cost of living challenges and enhancing living standards are all key components to build a better state that can make a real difference for the people of Ireland.
“We want our country to be an attractive place to live in, work in, raise a family and create jobs and opportunity – a foundation of real progress for the future.”
Ahead of the budget, the leaders of the coalition government insisted the measures will not further fuel inflation.
Taoiseach and Fine Gael leader Simon Harris said the government had taken a “balanced approach” as he dismissed claims that he was trying to buy votes ahead of an election.
Mr Harris said: “I make no apology, none whatsoever, for giving people a little bit of their own money back between now and Christmas, because that’s the buffer we need to provide people to allow the timeline between inflation falling and bills falling.”
Pressed on whether the giveaways in the Budget risked overheating the economy, Fianna Fáil leader and Tánaiste Micheál Martin said: “I don’t think the Budget in itself would be a significant fueller of inflation.
“We have to keep all of those issues under review, obviously, over the next 12 months – but the economy right now is in a healthy space.”
Green Party leader and Children’s Minister Roderic O’Gorman told reporters on Tuesday that the Budget meets “requirements in terms of supporting parents, children and families and supporting the planet”.
