The Spring Economic Forecast shows that measures to curb inflation are needed, according to Social Democrats finance spokesperson Cian O’Callaghan.
Deputy O’Callaghan said:
“Resources must be prioritised in areas that will curb inflation and have a long-term benefit – such as accelerating the rollout of solar panels to reduce household energy bills.
“These kinds of measures will create downward pressure on inflation, reduce our reliance on importing fossil fuels and will improve our energy security.
“Windfall tax receipts must be invested in our future and not handed out in tax cuts.
“The Irish Fiscal Advisory Council (IFAC) has tracked the state of Ireland’s finances without the recent windfall corporate tax receipts. They have identified an ‘underlying deficit’ that has grown from €6bn in 2024 to €7.5bn last year.
“The IFAC predict that this deficit could rise to €13.6bn in 2026.
“Given the underlying deficit and the current global economic uncertainty, it is irresponsible for the Government to be talking about tax cuts that would narrow the tax base.
“Fine Gael has clearly learned nothing from the economic catastrophe caused by their coalition partners.”
April 21, 2026