The new Minister for Finance must break the cycle of reckless budget overruns, according to Social Democrats finance spokesperson Cian O’Callaghan.
Deputy O’Callaghan made his comments after the delayed publication of the government’s Medium-Term Fiscal and Structural Plan.
He said:
“Overruns have already reached €4.1 billion this year. This habit of overspending is not a mistake – it’s a strategy.
“There is little point in having a Medium-Term Fiscal and Structural Plan if it’s going to be undermined every year by massive budget overruns, which have become a disgraceful norm under Fianna Fáil and Fine Gael, showcasing their utter disregard for financial responsibility.
“They expect taxpayers to cover for their mismanagement, perpetuating a cycle of fiscal incompetence.
“We need a public finance system prepared for the challenges ahead and a government with the discipline to stick to a budget.
“With no accountability for their excessive overruns, FF/FG operate with impunity, knowing they can always seek more money through revised estimates.
“This level of economic incompetence can also be found in the day to day running of the country’s finances.
“The Irish Fiscal Advisory Council has warned that overreliance on unstable corporate tax revenues is reckless. The government is continuing to irresponsibly narrow our tax base which has left Ireland exposed and over-reliant on volatile corporation tax.
“This will limit our ability to meet future challenges, including supporting an ageing population, tackling climate change, and cushioning economic shocks and downturns.
“This behaviour is unacceptable and irresponsible. The Irish people deserve better.”
December 19, 2025