Ireland needs an honest conversation about taxes and our vulnerabilities
The Minister for Finance, Jack Chambers, right, and the Minister for Public Expenditure, National Development Plan Delivery and Reform Paschal Donohoe will frame this year's budget. Photograph: Stephen Collins/Collins PhotosBudget 2025 needs to be one that helps us build towards a sustainable, prosperous and inclusive future for all. We want to avoid the booms and busts that have caused such pain in the past.
Some €1.4 billion of tax cuts have been flagged for Budget 2025. This will be inflationary and procyclical in the current strong economic climate and frankly makes little economic sense. Of course, tax cuts are also diametrically opposed to the core recommendation of the Commission on Taxation and Welfare. The Commission argued that Government revenues will have to meaningfully rise as a share of national output in the years to come.
Tax cuts will not help solve our crises in housing and lack of affordable childcare provision and will do little to ease the cost of living crisis for the most vulnerable households. A better approach is to directly target vulnerable households through a combination of median earnings benchmarked welfare payments and expanded provision of free or heavily subsidised public services.
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