This is the first Budget of the current Government and we see the return of Paschal Donohoe as Minister for Finance. Whilst the overall Government finances are very strong, unfortunately the Minister picks up the mantle against the backdrop of extreme global uncertainty and in particular a sea change in US trade policy. For better or worse we are in a new world order, which will certainly be at the forefront of the Minister's mind. Whilst a deal may have been agreed in principle between the EU and the US, we will only start to see the full ramifications and implications for Ireland over the next year or so. Make no mistake about it the old ways of doing things are gone.
In the Summer Economic Statement, the government indicated a €9.4bn tax and spending package, with tax measures amounting to €1.5bn and additional spending of €7.9bn. This package is circa €1bn more than in the prior year, although the proposed tax element is in line with the prior year budget. With the global uncertainty, we expect that the Minister will take a prudent approach - protect what we have and support the fundamentals of our economy to weather the storm. We expect to see some initiatives to support Irish exporters diversify and find new markets. The reliance of Irish exporters on the US market has been painfully laid bare.
In prior year Budgets we have seen once off “cost of living measures” introduced. The challenge for the Government is that such temporary measures could lead to permanent expectations. The housing crisis unfortunately shows no sign of being any closer to resolution. Bold actions are needed to reinvigorate and address the structural issues in the sector, including introduction of targeted tax incentives. In addition, we have seen a significant increase in defence spending by countries around the globe, given current geopolitical conflicts. Whilst Ireland may be neutral, we are not immune from world events and consideration may be given to investment in defence capabilities.
RBK will be holding its annual Budget Briefing as a hybrid event in person at the Sheraton Hotel, Athlone and streaming live online on Wednesday, 8th October.
Speakers:
Mike Scanlan, Tax Director with RBK Chartered Accountants, will provide an overview of the tax measures introduced.
David McNamara, Chief Economist with AIB will give his expert opinion on the likely impact of Budget 2026 on the economy.
Register to attend:
Registration to attend Budget Briefing In-Person
Date: Wednesday, 8th October 2025
Time: 7.30am - 9.00am
Venue: The Sheraton Athlone Hotel, Gleeson Street, Athlone, Co. Westmeath, N37 D953.
Register: Click here to register
Registration to attend Budget Briefing On-Line
Date: Wednesday, 8th October 2025
Time: 7.30am - 9.00am
Register: Click here to register
Author: Ronan McGivern
