Budget 2025: Paschal Donohoe’s speech to the Dáil in full

In his ninth budget speech, Minister for Public Expenditure Paschal Donohoe took a similar approach to Government colleague Jack Chambers, that Budget 2025 set out a positive path for the future while striving to meet the needs of today. Read his speech in full below.

Ceann Comhairle, today’s budget sets out a positive path for the future while striving to meet the needs of today. It is a budget for an Ireland with a growing population, full employment, public finances in surplus and public services expanding to meet our country’s needs. This positive position is the result of a balanced and planned approach to stewarding our economy and the hard work of the Irish people.

Before we look to the future, I want to take a moment to reflect on the last four years. A series of shocks from beyond our shores guided many of the measures taken in the budgets I have had the privilege of delivering since the election of this Dáil.

Since 2020, we have faced unprecedented challenges and risks of economic instability. These challenges: a pandemic, war in Europe, and spiralling inflation were external in origin, but caused real impacts here at home, which we dealt with due to the careful management of the public finances.

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[ Budget 2025 main points: Bonus social welfare payments, minimum wage goes up and tax on vapingOpens in new window ]

[ Jack Chambers’s speech to the Dáil in fullOpens in new window ]

Before I announce the measures in Budget 2025, allow me to take a moment to highlight some of the lasting improvements we have delivered, despite all of these challenges.

Our investment has resulted in:

768,000 children benefiting from free schoolbooks, 500,000 children eligible for free school meals and 180,000 children benefiting from the National Childcare Scheme;
A significant increase in expenditure in the health service, reflected in outpatient waiting lists reduced by 50,000 since 2021 and by our life expectancy reaching 82 years – the sixth highest in the EU;
116,000 new homes delivered since 2020; and
A record number of people in employment – nearly 500,000 more than just before the pandemic – and a new public service pay agreement for our Gardaí, nurses and teachers.

Minister Chambers and I appreciate the challenges confronting so many of our citizens. We recognise the many difficulties that clearly exist. But we make the case that Budget 2025 will make a difference to these difficulties, just as previous budgets have.

Expenditure strategy

Our strategy during this Dáil was to grow and improve public services by increasing spending by five per cent each year. Given the nature of the particular challenges we faced, including inflation and the pandemic, the five per cent anchor was simply not appropriate to cover the growth and expansion of services our country needed.

Instead, our Government provided a robust response to these challenges to ensure:

the most vulnerable in society were protected
supports were available for individuals, families and businesses; from the Pandemic Unemployment Payment to Cost of Living supports
that our economic growth was sustained and strengthened
the growing population was provided for with investment in a higher level of public service provision

Our strategy was the right one. We made essential adjustments to it, depending on the particular set of challenges we were facing. Not to do so would have meant not being able to protect and provide for our people during times of great need.

I am sometimes asked why we don’t spend more of our budget surpluses. During the pandemic, to keep people safe, we had to ask people not to go to work. Hundreds of thousands of people became unemployed and this Government spent billions of euro supporting them and businesses through that difficult time.

Just as we were getting back on our feet, the cost of living crisis hit and we were in a position to help once more as prices went up. That is the reason to run budget surpluses – it allows for flexibility and gives us a far better chance of being able to deal with the risks that we do not see coming.

Every budget process is a balancing act – we are tasked with making difficult decisions and our choices have a real impact. I am confident that our decisions, such as investing surpluses into the Future Ireland Fund and the Infrastructure Climate and Nature Fund, will greatly benefit our nation in the decades ahead.

Budget 2025

Indeed, our public finances continue to show strength and resilience and Budget 2025 will build on the progress made in this Government’s previous four budgets. As set out in the Summer Economic Statement, Budget 2025 sees expenditure of €105.4 billion, an increase of 6.9 per cent on last year.

Living standards

Ceann Comhairle, turning now to this budget’s specific expenditure measures, we are all aware that many of us are still feeling the impact of the external factors that I mentioned earlier. Although inflation has come down, prices have been slow to follow, and cost of living increases of over nineteen per cent between January 2021 and August this year, have left many in Ireland worrying about their finances.

While we have successfully insulated the lowest earning households from the worst effects of the price increases, this Government is still conscious that prices remain high. We are committed to protecting the most vulnerable in our society, through a series of supports.

Cost of living

Budget 2025 will include an energy credit of €250 for all households. This will be paid in two equal payments, one before the end of the year and one after. A further €300 lump sum payment will be made to recipients of the Fuel Allowance in November 2024.

An additional €200 will be paid to recipients of the Living Alone Allowance. There will be a €400 payment to those who receive the Carer’s Support Grant, Disability Allowance, Blind Pension, Invalidity Pension and Domiciliary Care Allowance in November 2024.

To support parents and students, funding will continue for the School Transport fee reduction and for the State Exam Fee waiver.

I am also providing for:

the continued reduction of the student contribution fee by €1,000
a once-off reduction of thirty-three per cent in the contribution fee for apprentices in higher education
an increase in the Post Graduate Tuition fee contribution by €1,000 for student grant recipients

I am also providing additional funding to support students at a time of increased strain from cost of living through the Student Assistance Fund.

Social protection

In addition to these temporary measures, I am pleased to announce a Social Protection package for 2025 worth almost €1.2 billion targeted to those with the greatest need.

This includes:

an increase of €12 per week for an individual in receipt of a weekly Social Protection payment

Further support to those with a disability and carers. I am:

increasing the Carer’s Allowance Means Test disregard to €625 for a single person and €1,250 for a couple
increasing the rate of Domiciliary Care Allowance by €20
increasing the Carer’s Support Grant by €150 to €2,000
enabling Carer’s Allowance to be made a qualifying payment for the Fuel Allowance

To further support families and children, I am:

increasing maternity, paternity, adoptive and parents’ payments by €15
increasing the weekly rates of the Increase for a Qualified Child (IQC) by €4 for under 12s and by €8 for over 12s
extending the Hot School Meal programme to all remaining primary schools in 2025 and introducing a school meals holiday hunger pilot project next summer
introducing a newborn grant of an additional double child benefit payment, in addition to the first month of child benefit. This will be a €420 payment to families for each newborn child.

I am also pleased to announce a further €1 billion for a range of cost of living supports, including an October bonus double payment for recipients of long-term Social Proection payments. Nearly one point four million people will benefit, including pensioners, people with disabilities, carers, lone parents and the long-term unemployed.

Children and families

Ceann Comhairle, this Government’s ambition is for Ireland to be one of the best countries in the world in which to be a child.

This Government has made eradicating child poverty an absolute priority and in the last five years, there has been a complete overhaul of supports available to parents.

Under this Government, investment in early learning and childcare has increased ninety-five per cent, from €567 million in 2019 to €1.1 billion in 2024. Free GP care has also been made available to all children under eight.

To provide further support to families raising children, two double payments of Child Benefit will be made to all qualifying households in November and December. There will also be a double payment of the Foster Care Allowance.

To ensure that our supports are targeted to the families that need them most, a €400 lump sum payment will be made to recipients of the Working Family Payment later this year. This budget also provides a lump-sum payment of €100 per child to recipients of Qualified Child Increase payments.

When we talk about the future of Ireland, we are not just talking about infrastructure or the economy – we are talking about the young people who will go on to lead and look after our society and our country.

Today, I am allocating eight point €3 billion to the Department of Children, Equality, Disability, Integration and Youth, with investment in early learning and childcare increasing to nearly €1.4 billion.

Funding for the National Childcare Scheme will increase by a further 44 per cent. This investment will mean that next year parents will see full-time childcare costs reduce even further by an additional €1,100. In addition, the number of children availing of the NCS is set to increase to 216,000 in 2025.

A €336 million increase is being provided for Disability Services, which will facilitate additional residential care beds, more respite provision, additional home support hours and a day service place for school leavers.

Increasing the Tusla budget to €1.2 billion will provide more residential placements, increased therapeutic services, and increased payments for foster carers for initial placements.

Education

At the core of creating a brighter future for our young people and our country is education. Developing a dynamic, inclusive and affordable education system allows us to build the Ireland of tomorrow.

In education, a capital allocation of €1.3 billion will support 350 building projects currently under way as well as a further 200 new school projects.

Budget 2025 provides funding for 768 additional special education teachers and 1,600 more Special Needs Assistants.

Building on the success of the Keeping Childhood Smartphone Free initiative, 2025 will see the roll-out of supports to allow post primary schools to do just that throughout the school day. This policy will support the wellbeing of our children and provide them with the best possible environment for learning.

This budget will see a substantial increase in funding for the School Transport Scheme in recognition of its importance in providing access to education for children living remote from their nearest school.

Ceann Comhairle, reducing the cost of education is a priority for this Government. Today, I am providing funding to extend the Free Schoolbooks initiative to all transition and senior cycle pupils in recognised post-primary schools within the free education scheme.

Education is one component in ensuring a thriving population, as is feeling supported in times of ill health.

Health

In July, I reached an important agreement with the Department of Health and the HSE to provide additional funding of €2.7 billion for the Health sector over two years. This plan provides a stable funding base, bringing the total Health allocation to €25.76 billion.

We agreed that this additional funding must support better financial planning and governance, demonstrating a clear link between this significant level of public funding and improved health outcomes.

Our health service workers are central to delivering positive results for patients. In 2025, the numbers working in our health service, not including disability services, will reach over 130,000 whole-time equivalents, an increase of 27 per cent since 2019.

Budget 2025 includes funding for a range of new measures that will increase access, affordability and capacity in our health service, including;

the introduction of 495 new beds to our health service across hospital and community services, bringing the total number of beds to over 18,000
600,000 additional home support hours
Continued support for women’s health measures, including increased access to IVF and Hormone Replacement Therapy free of charge

This budget includes funding to facilitate the continued development and enhancement of mental health services, as set out in the National Mental Health Strategy, ‘Sharing the Vision’. Implementing the recommendations of the Strategy is a key commitment in the Programme for Government and a priority for the Department of Health and the HSE.

Funding provided in Budget 2025 will enable enhanced provision of services including:

youth mental health services;
counselling for the Traveller community;
suicide bereavement counselling;
Cyber Safe Kids initiative; and
additional children and adolescent mental health services

This budget ensures that the health service is well funded and able to deliver better access and better outcomes into the future.

Infrastructure and better public services

Today, governments around the world are encountering new and varied challenges linked to climate change, public health, geopolitical security and more.

Ceann Comhairle, we want to provide the necessary infrastructure and growth in services to ensure that they deliver for all our citizens, whether they were born here or chose to make their home here. This is an absolute priority for this Government – to support the delivery of the right infrastructure in the right place at the right time.

Adding to our infrastructure

Ceann Comhairle, I would now like to briefly address the funding arising from the recent decision of the Court of Justice of the European Union. These funds are estimated to have a current value of €14.1 billion.

Clearly this is a very significant amount of money. But we should also recognise that this amount is one-off in nature and that it is equal to the sum that we are already planning to invest through the National Development Plan next year alone.

It is vital, therefore, that we maximise the potential of these funds, delivering the best possible outcome for the longer term.

Government has agreed the principle that these funds should be invested to expand our infrastructure for the future development of our society. Specifically, water, electricity, transport, and housing have been identified as four strategic investment pillars. Investing in these areas will support the needs of our people, assist in growing our economy, and help in meeting our climate and nature goals.

Officials from my department and the Department of Finance will now begin work on developing an investment framework for the use of these funds, ensuring co-ordination with existing investments being made through the National Development Plan.

National Development Plan

Through the record investment provided under the National Development Plan, this Government is increasing infrastructure delivery, while also ensuring value for money. We are investing sums well above the EU average through the NDP.

A significant number of capital projects have already been delivered including 500km of new walking infrastructure, 170kmof new roads, and the expansion of rural public transport through Local Link services.

Today, I am providing an additional €1.7 billion in 2025 for more homes, schools and hospital infrastructure, and to tackle climate change. This will include an investment of €400 million in the National Broadband Plan. Total capital investment in 2025 will be close to €15 billion, the highest annual spend we have ever seen in this country.

As we focus on infrastructure and the growing needs of our population, the most fundamental of these is having a home in which to live.

Housing

In Budget 2025, I am providing over €7.8 billion to the Department of Housing, Local Government and Heritage including:

a further investment of €3.2 billion in capital funding to continue the ramp up in delivery and to address affordability constraints for households
of this, over €2 billion will be available in 2025 to deliver 10,000 new build social homes
€680 million will be allocated to key affordable housing schemes, supporting the delivery of 6,400 affordable homes in 2025. It will also support additional grants under the Vacant Refurbishment Property Grant Scheme to bring units back into use

An unprecedented €1.65 billion in current funding will continue to support 66,000 households in active social housing tenancies and will provide for

An additional 7,400 new social homes in 2025, as well as continuing to support over 38,000 social housing leases already in place and;
10,000 new households will have their housing needs met under the Housing Assistance Payment and Rental Accommodation Schemes in 2025.
a further €168 million in funding to support regeneration of towns and urban areas and to deliver enabling infrastructure to support the growth in delivery
support of specific categories of need with €23 million being provided to deliver Traveller community-specific accommodation
€100 million for grants to adapt the homes of older people and people with a disability

I am also allocating €90 million to retrofit approximately 2,500 social homes in 2025, demonstrating the State’s commitment to help people reduce their energy bills and to ensure Ireland meets our climate targets.

Infrastructure, climate and nature fund

The Infrastructure, Climate and Nature Fund is one of two funds established this year to manage windfall tax receipts and to prepare for the future. The ICNF has two roles:

first, to ensure that we have money to invest during periods when the economy is not so strong
second, to invest in climate transition and preparing for a greener future

More than €3 billion is being set aside for this second role between 2026 and 2030.

We will shortly set out how this money will be invested to provide a clear and consistent signal to the market. The allocation process will be subject to engagement between myself and other relevant Ministers.

The fund will be used to support designated environmental projects that can assist with:

the reduction of greenhouse gas emissions
an improvement in water quality
an improvement in nature and biodiversity objectives

In practice this will mean supporting projects that help Ireland to meet its climate and environmental obligations and ambitions, including climate neutrality. This will improve the lives of the people of Ireland.

Further details on the plans for our proposed approach are set out in the budget documentation published by my Department today.

Climate

It was very positive to record a 6.8 per cent reduction in Ireland’s greenhouse gas emissions last year. As we continue to invest in tackling climate change we will see further benefits including warmer homes, less congestion in towns and cities, enhanced biodiversity and cleaner air and water.

In support of these goals, capital funding for the Department of Environment, Climate and Communications has been increased to over €1.4 billion, allowing for record allocations to be made for investment in energy efficiency and renewable energy.

‘Warmer Homes’ funding will reach record levels, likely to reach more than 10 times the funding provided in 2020, increasing the number of households benefiting and providing for deeper retrofits.

Funding will support up to half of the cost of energy efficiency upgrades being met by the State, complemented by State supported loans.

To support our farmers in becoming more environmentally sustainable, over €716 million is being provided in 2025 for those participating in agri-environmental schemes such as ACRES.

Carbon tax

Applying a Carbon Tax remains an integral part of our climate action response as a Government. The Carbon Tax will increase by €7.50 per tonne as part of Budget 2025, bringing the total Carbon Tax revenue available for investment to €951 million. Half of this amount will be invested in improving the energy efficiency of our homes; an additional €89 million compared to 2024.

In addition, the Carbon Tax will fund €306 million of Social Protection spending in 2025. An additional €44 million for targeted measures, namely, increases to the Qualified Child Payment, and to the income eligibility threshold for the Working Family Payment, ensuring that the most vulnerable are protected from unintended impacts of the tax increase.

As we seek to identify ways to reduce our carbon footprint, one of our clearest avenues is our transport system.

Transport

A strong transport infrastructure is necessary for connectivity and for our climate ambitions. A connected Ireland is a forward-facing Ireland.

Today, I am announcing €3.9 billion for the Department of Transport, with over €1 billion in current funding and €2.9 billion in capital funding.

This funding will enable:

enhanced capacity on existing public transport routes
ongoing investment of almost €1 million per day in cycling and walking infrastructure
continuation of temporary fare initiatives on public transport to the end of 2025, including the Young Adult Card for 19-25 year olds and the 90-minute fare
free public transport to be extended to children aged 5 to 8 years old
a new and modern Coast Guard Search and Rescue contract

Additionally, I am pleased to announce that a financing agreement has been reached between the Port of Cork and the Ireland Strategic Investment Fund to extend the Port’s quayside berth at Ringaskiddy.

The agreement, a €93 million financing package, will allow the Port of Cork to develop multipurpose infrastructure capable of meeting the requirements of the offshore renewable energy sector. The agreement marks a significant milestone in our ongoing commitment to deliver a greener, more sustainable future.

Agriculture, food and the marine

A key driver of that greener future will be our agri-food sector; a driving force that supports communities across the country.

Today, I am allocating over €2 billion for the Department of Agriculture, Food and the Marine for 2025. This demonstrates the broad support that will be provided across the sectors, ensuring we support farmers, fishers and foresters.

The agri-food sector is a core part of our rural communities and our largest indigenous industry. Budget 2025 will support an innovative and sustainable sector that enriches our biodiversity, protects our landscapes and supports our economy.

This budget will also provide additional funding for a range of supports across sectors, including:

€30 million for a new tillage scheme supporting farmers to plant their field crops
€10 million for animal health measures improving biosecurity
€22 million for the continuation of the National Sheep Welfare Scheme into 2025
€8 million to enhance payment rates on the National Beef Welfare Scheme

Some one €143 million of Carbon Tax funding will be provided to the Department of Agriculture, Food and the Marine next year. This funding will continue to support farmers as they work to improve biodiversity, climate, air and water quality outcomes.

The Department of Agriculture, Food and the Marine will also administer over €1.2 billion of EU funding in direct payments to farmers.

Rural and community development

Ceann Comhairle, this Government believes that the development of sustainable communities is necessary to drive enterprise growth, increase remote working capability, and support our people to grow and flourish.

I am providing €472 million for the Department of Rural and Community Development. This will help deliver key commitments set out in ‘Our Rural Future’ and the National Development Plan, and will promote social inclusion in both urban and rural areas.

The Department of Rural and Community Development will have total capital funding of €235 million in 2025 to support the revitalisation of rural Ireland through schemes including the Rural Regeneration and Development Fund, the LEADER Programme, Town and Village Renewal, the Outdoor Recreation Infrastructure Scheme and the CLÁR Programme.

Enterprise and skills

Ceann Comhairle, our ability to fund these schemes depends on a growing economy. The enterprise sector lays the foundations for economic growth, future wellbeing and prosperity.

In saying this, we also must recognise the difficulties that businesses have been facing. To support them we are investing:

over €1 billion in the Department of Enterprise, Trade and Employment’s Jobs and Enterprise Development, Innovation and Commercialisation and Regulation Programmes in 2025
capital funding to enable IDA Ireland and Enterprise Ireland to provide additional environmental aid to their clients
almost €7 million in additional funding to the Department’s Regulatory Bodies and Agencies

Recognising that rising energy costs have impacts for hospitality and retail businesses, I am today announcing an Energy Subsidy Scheme for these businesses worth €170 million. This will provide a support to approximately 39,000 firms.

Further and Higher Education, Research, Innovation and Science

Budget 2025 provides for over €4.5 billion for the Department of Further and Higher Education, Research, Innovation and Science. This is a demonstration of our commitment to investing for our future.

National training fund

In my budget speech last year, I spoke about the role of the National Training Fund in providing vital funding for skills and lifelong learning and committed to further work on this opportunity.

The NTF is in surplus due to the growth in the numbers at work and increased employers’ PRSI receipts.

Today, I am announcing an almost €1.5 billion package over a six-year period to 2030, comprising both current and capital investment to better fund research, further and higher education, skills and development and decarbonisation.

This multiannual commitment will include an increase in core funding to Higher Education by €150 million per annum. The main focus of this will be on meeting the funding requirements of our universities, as set out in the ‘Funding the Future’ framework.

This funding will include support for:

additional healthcare and veterinary places under the expressions of interest expansion programme
an increase in certain PhD stipends

Funding for further education will support:

€78 million for the continued growth of the craft apprenticeship system to 6,800 apprentice registrations in 2025
skills requirements in micro, small and medium enterprises to build business for the future, as well as upskilling for the Community, Voluntary and Social Enterprise sector
the development of construction and green talent pipeline needed to address Government priorities, such as Housing for All and the Climate Action Plan

Safety and security

Justice

This Government is committed to building stronger, safer communities, and, with this in mind, I am announcing a package of over €3.9 billion for the Justice sector. The record allocation available in 2025 will allow for:

a significant increase in funding for the Irish Prisons Service, with recruitment of up to 350 additional staff and investment in areas such as prisoner care and rehabilitation
recruitment of a further 1,000 Gardaí and up to 150 Garda civilian staff
a significant expansion in the international protection processing system. This includes 400 additional staff across this area
an additional €7 million for organisations providing supports to victims of domestic and gender based sexual violence

We are working to maintain a safe and secure Ireland and to support where we can overseas.

Defence

Crucial to this goal is the work of the Defence Forces and today I am announcing an allocation of €1.35 billion for 2025.

A 22 per cent increase in capital investment to a record allocation of €215 million will enable the advancement of major Defence equipment and infrastructural upgrades, such as Military Radar and Subsea surveillance projects.

In recognition of the significant transformation and reform under way in the sector, today’s allocation will provide for:

the recruitment, training and support of a net increase of 400 Defence Force Members in 2025
investment in measures such as enhanced advertising for recruitment, equipment maintenance and a new and improved Defence Forces’ uniforms

This budgetary increase builds on investment in recent years and underlines this Government’s commitment to the transformation of the Defence Forces through the implementation of the Commission on the Defence Forces, and Independent Review Group’s recommendations.

Culture and society

Ceann Comhairle, I believe that Ireland holds a unique position in the world, where our culture, ár dteanga and our artists are the beating heart of our society. There are record numbers visiting our national cultural institutions. Irish writers are some of the best in the world – giving us pause to reflect on the world around us, to make sense of it or, indeed, to escape it entirely for a moment.

In 2025, I am allocating:

€380 million to Arts and Culture
€107 million to the Gaeltacht, which will provide a wide variety of supports to our Irish speaking communities in the Gaeltacht and beyond
€206 million to tourism
€328 million in funding to Media, including €6 million for the independent broadcasting sector
€231 million in funding to Sports, which will benefit clubs and organisations in every corner of the country

Global role

Ceann Comhairle, our country can be proud of our tradition as a champion for peace and prosperity across the globe. We are privileged to live in a country with robust and fair democratic systems, high levels of trust in our public institutions, and a strong economy.

This privilege brings with it the ability to invest in peace and development on our own island, our Continent and across the world. Our Government continues our commitment across a number of areas.

Our Shared Island

We will continue to support the Shared Island initiative engaging with communities to build consensus around a shared future and delivering benefits for the whole island. Support will be delivered by:

advancing strategic projects such as the Narrow Water Bridge
contributing to the A5 North West transport corridor upgrade and linked road projects in Monaghan and Donegal
through co-funding the Co-Centres for Research and Innovation, with the Northern Ireland Executive and UK Government

The Taoiseach and the UK Prime Minister have committed to resetting relations between Ireland and the UK. We will allocate resources to support this important work.

EU funding

Being a member of the European Union has been transformative for our country – it has given us a powerful global voice on the world stage. EU funds have contributed to infrastructure improvements and have been invested in our people’s future through education and training to improve our people’s lives.

Today, I am providing significant additional resources in 2025 to the Department of Foreign Affairs to commence the preparations for the important policy work that will take place during Ireland’s presidency of the Council of the European Union in 2026. I am also providing an additional €35 million to support the Global Ireland strategy.

Irish aid

Next year will see the highest ever allocation to Overseas Development Assistance, when funding for international co-operation in the Department of Foreign Affairs will increase by €35 million to reach over €810 million.

Investing in development programmes abroad that protect nature, respond to climate change, and provide humanitarian assistance, aligns with the approach we also take at home in helping those who come to our country as result of war, poverty and other global challenges.

Part of our international role is to welcome those coming to Ireland who need our help, €2.1 billion is being provided to support accommodation for those fleeing Russia’s illegal war in Ukraine and to those seeking International Protection.

Community Recognition Fund

In addition to the core funding for rural and community development for 2025, I am providing €13 million to help integrate arrivals from Ukraine into local communities. This will enable the Social Inclusion and Community Activation Programme workers to continue to support new arrivals and those already in our communities. I am also providing an additional €25 million to the Community Recognition Fund, which supports communities welcoming those in need.

Performance budgeting and transparency

Ceann Comhairle, this Government knows that public expenditure management does not exist in a vacuum. It is important that we recognise and measure the impact of the decisions that we make beyond just their monetary cost. For that reason, my department uses performance-, equality-, green-, and wellbeing budgeting as a key component of the spending review process so that we can measure and judge the full cost of decisions being made across Government.

Conclusion

Ceann Comhairle, we live in a volatile world – a world in which the pace of change is accelerating and the level of complexity is building, but the scale of opportunity is growing.

This is why we must run budget surpluses. This is why we must set aside some of our country’s money for the future. This is why we must invest our recent gains in the Ireland of tomorrow. Not spending everything today, no matter how tempting.

In my many years serving as a Finance Minister for our country I have led our finances from deficit to surplus. Twice. These healthy public finances have allowed our country:

to build more homes
to keep and create jobs
to invest in our future, and a greener future
to improve our public services

all while dealing with the crises of a pandemic, a war in Europe and then soaring inflation.

The politics and economics of the centre, of a steady approach to the many and competing demands, of embracing the opportunities and responsibilities of our role in the world, of supporting growth and jobs – under this Government, that approach has worked.

Let me be clear, making the case for progress is not the same as denying the reality of the many pressing problems that I know exist.

The Government appreciates the urgency of the challenges of today. We are working to meet them head-on.

But, with optimism and with hope, I say to the Dáil, look at what our country has achieved in recent years, look at what we have overcome. Look at what we can yet do. Look at what is yet to come.

Our recent budgets, and the choices that Minister Chambers and I are presenting today, have and will play an essential role in this. In lessening our problems. In pursuing the great opportunities that await. In building a better Ireland with a brighter future for all.

That is why I commend Budget 2025 to Dáil Éireann.