Last October was the pre-election giveaway. This year comes the reckoning. This looks like a very different kind of budget and is quite likely a politically explosive one, particularly after the Minister for Finance confirmed on Friday that there would be no personal tax cuts. Here are the six keys to interpreting Budget 2026.
1. The central problem is that the amount of money being fought over does not meet a lot of the Government’s political goals. Budget ministers Paschal Donohoe and Jack Chambers are trying to tighten things up in the first year of the Coalition’s term after an overly-flaithiúlach 2025 pre-election package and a few years of runaway spending growth. A big hike in vital infrastructure spending will be a key budget theme but this leaves less for additional spending on services in areas like health and education. The Ministers have said there will be no once-off cost of living payments this year and also no room for general personal tax cuts.
This politically unattractive
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