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MINISTER FOR FINANCE Paschal Donohoe has ruled out issuing cost-of-living packages in the next budget, despite the imminent threat of inflation posed by US tariffs.
Donohoe said that the growing uncertainty and risks to the economy mean it is “correct” to rule out a bumper package of cost-of-living supports which have featured in recent budget announcements.
He was speaking following the publication of a report today on the potential impact of tariffs from the Department of Finance and Ireland’s Economic and Social Research Institute (ESRI).
President Donald Trump’s proposed tariffs on EU goods are set to be announced on 2 April as the trading bloc yesterday said it will delay implementation of retaliatory measures until mid-April.
Donohoe’s rejection of budgetary cost-of-living supports echoes comments made by Taoiseach Micheál Martin yesterday at an EU summit in Brussels in which he expressed his wish to err on the side of fiscal conservatism given the uncertain economic times ahead.
“I think our focus on the budget would be on sustained provision within the existing estimates. There will not be cost of living packages, as happened last year,” the Taoiseach said.
Asked about Martin’s position on the matter, Donohoe said: “Yes, the cost of living is still high. I know it’s a huge challenge for so many, but we don’t have the inflation levels – the 5% and 10% – that we had for so many years that necessitated spending billions of euro to help offset prices going up.
“And it is correct, therefore, to say at this point in time that we can’t repeat those kind of measures again and we will need to make sure that we have the enhanced strength in our economy and in our public finances to deal with the kind of risks that we’re outlining today.”
With reporting from PA.
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They got voted back in so no need for a give away budget. No energy credit, no extra child benefit payments etc etc. That’s it folks. Pay up!
@Orban Orban: A lot of companies posting record profits.
even ESB, although down a bit, posted almost a Billion in profit.
The intention of the Government might be good in the first place,
but all it did was big companies increase their profits by not increasing wages.
Same happens in the US.
Small companies might (!) still struggle, but a lot are creaming it.
@Orban Orban: government should be gone won’t last 5 year’s
@Orban Orban: Irish tax payer money needs to be spent on Ukrainian cats & dogs and their BMW repairs. If Irish children need to go cold and hungry so be it, especially the poorer parts. It’s what the Irish people voted for.
@Alan Moloney: don’t worry no doubt they’ll get back in and mess things up again more so never changes.
@Dan The Man: and they’re hamsters, goldfields, guinea pigs, turtles etc. To be fair most Ukrainian cars I see here are top spec cars so it’s great to see no tax needed on them, costly repairs no bother sit back sure paddy next door will go to work in the morning and pay for it. Best of all will be heading back to Ukraine on holidays and we’ll pay for that aswel. We are the mugs of the world here with a s### tick government on cloud 9.
@Wolfgang Bonow: it’s a whispered corporate promise to keep us in jobs. IF those jobs start to go we could see a reaction from the Irish people but it would need to be a lot. SMEs are long hated by the government, Franchise yes, local shop no.
They were just voted in so what’s so surprising?
@Nollaig Adderley: And then you have the agro heads from unsavory areas who couldn’t even get one seat claiming that they speak for others
@Housing Hunger Games:
What unsavoury areas are you talking about, and what savoury area are you from.
@Housing Hunger Games: b£ll end!
@Thomas O’Brien: all of the riff raffs couldn’t get one seat
@Housing Hunger Games:
So you live close by then, Howdy neighbour.
@Thomas O’Brien: Why am I thinking about a carvery dinner now?
@Thesaltyurchin:
Maybe you are feeling a bit peckish because of the hunger games, bon appetit.
This Government are delusional, they really aren’t reading the mood of the people. Billions get wasted,taxpayers money on looking after the refugee problem, which will never end as Ireland is now seen as a soft touch. It’s only going to get worse as other countries crack down and roll up the red carpet. Big Trouble ahead.
@Gerard Carey: the Irish public just had their say. It’s the loud, angry crowd that are not reading the mood of the people
@Gerard Carey: the boom’s getting boomyer.
@Housing Hunger Games: You’re obviously getting paid to be on here. You actually think that the average person in this country is concerned about economic migrants?
@Eric Gaffney: the average person JUST had their say. Scrotes didn’t get a seat. Deal with it. The average person don’t care about your buzzwords or narrative. How many seats did ye get? None. Zero.
@Gerard Carey: most people doing well, 5000 went to Bulgaria for the match Aviva sold out for the rugby, thousands going to England every weekend for football, airport busting at the seems with travelers, 180,000 tickets sold for a concert in the Park, amazing and really expensive houses on Home of the Year, record low employment, cars sales up, wherever you look country is booming. As far as the majority I see, could not care less who is in power, as long as they are doing well
@Housing Hunger Games: your a one trick poney….nobody cares about people coming here making a better life for themselves or their family i welcome that…the hot topic is the free loaders that come here and believe me there is a vast amount of them have no way of wanting to contribute but to get whatever they can for free…and dont get me wrong…we have our own free loaders aswell…hotels making a mint for housing them…i have no following for any political party…i just see it as how it is…this country is expanding and the gov are doing nothing to to cope with the pressure…for example not opening more hosptials and training more people…crime is out of control and everyone knows about the housing problem
@Peter Byrne: Did you receive a blow to the head recently because that has to be the ramblings of a person who’s not right in the head!
@Gerard Carey: land of a thousand welcomes, cead a mile failte. Watching thousands of educated emigrate, great times ahead.
@Housing Hunger Games: How many have you taken in and paid for. , seeing as your soo concerned? None .Zero .
However, if I was a Ukrainian getting a car repaired, well now that’s a different story.
@Eric Gaffney: ye lot couldn’t get one seat
@Housing Hunger Games: yeah you can tell.
@Housing Hunger Games: Repeating yourself in reply to every comment is tedious. You’re missing the mark on this occasion too as it was an Independent Ireland deputy that raised the matter in the Dáil of Ukrainians getting money from the government to fix up their cars. Up to 7k available to them according to the Kerry TD. A lot of people who are the ones paying taxes and are driving cars worth less than 7k so his point is completely relevant
@Housing Hunger Games: Trump / McGregor MAGA movement is coming to Ireland this year buddy. Don’t get too comfortable.
@Adam H2022: ye scrotes have been saying that before the November riots and ye still got no seats. Imagine riff raffs in the dail. We just had an election. Deal with it
@Housing Hunger Games: good try troll but you always reveal yourself.
@Adam H2022: it’s not. Ireland has an educated population, you’ll be sad to hear.
@Housing Hunger Games: you’re such a dope, lol.
@Eric Gaffney: certainly is unique doubt any other countries hand it out so lavishly. It would u like hardly leave the system open to abuse? Anyway I was wondering anyone know anyone selling a Ukrainian car I want to save on tax,fuel, repairs and insurance want a high spec one aswel might aswel seen as no need to pay for running costs seen an X5 today and I’m driving a yaris worth less than 1000 euro to work hard to see any point now whatsoever.
@Housing Hunger Games: and your lot think the government is correct? Just a question.
@Darth O’Leary: and harris, the condescending little phucker he is, not even answering the question.
It isn’t a cost of living package it is a hand out to energy companies that are already bringing in record profits. It is the cost each tax payer pays for voting FFG. If they did their job we wouldn’t have to give tax money to energy companies and tax payers wouldn’t have sky high bills.
Isn’t this our money anyway that Pascal is playing with?? Perhaps he is so comfortably heeled he doesn’t need it, but most of us regular workers do.
@DeBaldyMullet: pascal is so highly educated that he understands a huge influx of people, huge housing crisis, country heavily dependent on foreign investment is as good as a gold bar nothing can go wrong.
@DeBaldyMullet: I think people would take less if we had more by way of infrastructure, if we could see the investment. But they’re scared, these are accountants and teachers not people of vision, ideas are limited to moving around the same numbers. It’s a shame we cant see problems and fix them, we see to only make more.
It’s way beyond time for a change ,
mental all together…give away millions to other countries but cant help the people who they work for…and people keep voting this shower in?? these people who we call politicians couldnt give a fiddlers about the ordinary irish people…
@kaidon sharkey: Correct, they only care that we continue to work and work and work and then give them over half of our hard earned salaries.
They have been sowing the seeds of incoming greater costs and taxes in the media recently, doing the ground work of their corruption, when we complain they will trot out the excuses, we will accept them, and then forget we are being cheated. Once they are spending big sums of taxpayers and our money is flowing then the system is operating exactly as they intended.
What did we expect to happen when they where voted in. With a big majority. Why would they bother. Another 5 yrs. Yipeeee for them
What the Minister fails to mention is that all those cumulative inflationary. Increases are still with us. The cost of living, particularly housing costs, continues to rise with no end in sight. Look at your energy bills and you will see that there has been little or no decrease in those and other costs. And now we just have to grin and bear it.
Meanwhile let’s spend a few hundred million on guns and ammo.
Why in God’s name, would the government give you another bribe, when you’ve already elected them!
Isn’t it amazing that in the past few weeks we had all these articles on increased military spending which wouldn’t make one iota of a difference if Russia decided to take us out. Yet when it comes to looking after our own citizens, it’s the old money doesn’t grow on trees excuse.
@Nigel Hayden: Spot on. Austerity for us while our taxes are sent to weapons manufacturers
That’s giving the middle finger to the people who pay their exorbitant wages and their expenses both vouched and unvouched. A totally toxic, stagnant government!
They’ll miraculously return before the next general election
when will people wise up
Pascal and the rest of the “elite” don’t give a toss, they are nice and cosy in their expensive homes and don’t have to watch the costs. If they had to live like the honest decent public they would soon scream.
But there will definitely be a cost of living package for the fat cat government officials extra bonuses are in line I would imagine since they just look after themselves
@Bren: did they not vote a raise in for themselves a week after the new dail sat?
@Lydia Mcloughlin: and there will be another one soon enough when they get the rest of the taxes in , in April set themselves up when they know they’re days are numbered Ireland is really getting annoyed now with their lousy governance
But bigger pay packets for lowrys lads, can’t write it.
Ah FFG the dopes that just keep on giving, I mean taking from the Irish people. Warned for decades about being to reliant on corporate taxes. Now the preverbial is about to hit the fan and it’s regular people who will suffer there incompetence. Spiralling poverty rates, a housing disaster, funny according to Mehole, crumbling infrastructure, a health crisis, both physical and mental. What a bunch.
@Daniel Gilroy: mehole is as intelligent as as ashtray on a motorbike. If recession hits we’re in serious trouble this time round we’ve invited the world in thanks to roderic and co. The costs will be overwhelming and those are struggling and going week to week will be hammered altogether
“Looming threat of inflation”. You’d be fairly thick if you believe it was looming and not ongoing for years. FFFG are getting complacent.
The Israeli government only understands killing. I’d have little doubt there actions have killed some of their own hostages. Free all hostages and prisoners held without fair trial, create a boarder between Israel and Gaza and let people live. Stop the killing of children, and or their parents and family’s. Israelies and Jews need to stand up to their government. If the Irish government were acting like this they’d be ousted a long time ago. It’s time for Israelies and Jews to help stop antisemitism by showing they are truly a nation of kind and peaceful people. Isreal – Stand Up. Now is your opportunity.
@Eoghan O Sullivan: what the fup has that got to do with the cost of living? Can’t comment on some thread so the rest of us have to get blasted with your opinions.
@DeBaldyMullet: aw poor divil. Did the bad man write the opinions you didn’t want to read about. Happens all the time with random comments on every article but you only whine about this particular topic. Strange
@Darth O’Leary: no it ain’t strange
What’s ” strange ” is people who feel waving 2 flags at once has some sort of impact in the Middle East .
My car needs repairs ,, strangely enough my Western European bloodline excludes me from MY GOVERNMENT giving me this ,
Wonder how.many Irish residents got a payment from Kiev ?
Come.to think of it how many Irish residents sons / daughters got 3.5 times higher college grant then said Ukrainians ?
“Strange ” indeed Darth
No doubt someone will report my FACTUAL comment for being a bit too truthful here
Why does the journal deny and deny that there is not a big immigration problem in this country and come out with their fact checked by the journal rubbish. Your fact checks are biased and wrong. Cop the hell on and report factual news. Everyone on the street knows something is off about all this, I deal with the public in my job and 90% know there is something wrong. Oh and you fact check on the vaccine as it worked was proven false a couple of years ago.
@brendan C5: what mr noone said its what everyone else is thinking fair play to him for saying it and anyone who bullied him and doxed him should all be arrested and charged because it was disgraceful behaviour just because some one has a different opinion to them
@brendan C5: ye lot couldn’t get ONE seat in the election
@brendan C5: why did you name yourself after a rubbish tricycle invented by Clive Sinclair? Do you not peddle enough garbage already?
@brendan C5: was in dublin city centre for the first time in a few years recently. for a second I didn’t know whether I was in dublin, Mumbai or Beijing.
Ahh Isn’t Voting for Same Old same Old Great…NOT!!!
Now the freebies are gone for next 4 years the gangsters are back in power.
@Michael Edmonds: only freebies around here are for newbies in this country from other parishes vets bills mechanic bills medical cards socialising expenses
@Nemethon: you need to be non European to qualify, anyway could someone please tell me where I might buy a Ukrainian plate car preferably high spec as running costs are not relevant.
It’s gas the same media outlet keeps posting articles about various utilities, Various businesses are increasing their prices and they have the gall to post an article that refers to looming inflation. What a joke, they really do not have any respect for their readers..
Roll on next week going to see if I can get my car serviced on the state. Got to get some benefits to paying tax. But I guess I shouldn’t hold my breath eh.
Sheep got what they voted for!!!
Wolves are happy
Pascal is the biggest liar we’ve had in politics.
Mr. And Ms. Government I do not want another cost of living package. As I paying carbon tax since 2010 on gas, electricity, feeling my car, I want you to grow a visionary solution and fit my home with free solar panels, paid for from my carbon taxes I paid. In fact if you went road by road, village by village and town by town over the last fifteen years we be better off because the solar panels would not only reduce our bills but protect the grid.
Could you send the man out to measure my home, the danish done this and they are not paying billions like us in carbon credits.
I could not believe a TD’s wage before expenses and committees is €114,000 – Then the whole 170 spend their time doing nothing constructive Only roaring and shouting and posing for cameras
Prices are exhortationate companies have free reign
@Tim Brennan: thanks to our lovely government as per usual asleep at the world looking after themselves but their days are numbered. Ireland has woken up.
And they’re off!
That is because this dic k and his idi ot government TDs are too busy handing out money hand over fist to illegal immigrants and Ukrainians. Nothing left for Irish people who work hard and are fleeced due to taxation to pay for this charade.
Everyone wants free goodies but no one wants to pay for it. It shouldn’t be government’s role to meddle in the economy and give out loads of vote-buying freebies in the lead up to local and general elections. In fact, these handouts just distort market signals and make things worse. They do nothing to address the root causes of inflation housing shortages or high energy prices. They’re a classic example of a government trying to paper over cracks rather than fixing underlying structural problems. These one-off payments disappear, but the financial burden remains and those who received them are no better off in the long run. We need large spending cuts, tax cuts and deregulation in the next budget if we want to be in a better position. Fine Gael and Fianna Fáil will never do that though.
@William Jennings: Nobody wants Free Stuff…But to Live Decently and NOT be Billed to Death!
@Mick Hanna: I agree, Irish people are billed to death by the taxman. The government keeps hiking up taxes that aggressively punish hardworking people. We’ve got the third-highest personal tax burden in Europe. This needs to end. The problem is that people keep voting in the centre-left Fine Gael and Fianna Fáil who have progressive taxation policies, meaning that no one gets any tax cuts because revenue has to keep up with their lavish public spending.
@William Jennings: if you vote for the responsible, what do you get. Answer nothing but imagine the responsible is happy going to the bank every month and seeing their €9500.00 . How can the responsible government parties who the electorate keep voting for comprehend were not all earring their wage of €9500 tax free per month.
@William Jennings: well its free if you’re from Ukraine drop you’re car in aswel we’ll pop a new engine in or better still pop in in to you’re Ukrainian friend with a garage he can claim he put an engine in and bill for it regardless sure who’ll check.
No problem whatsoever at a whim to give millions if not close to a billion to Ukraine but for irish struggling or for irish children on waiting lists for assessments or hospital operations they’re not essential at all for help. Mehole and co are like dogs who bow to the eu at a whim they get down on they’re knees with no regard for ordinary tax payers here.
FFG. How do people vote for them? Why?
Is it a form of Stockholm Syndrome?
Lizard tongue has no imminent election coming up you see.
The Healy Ray’s don’t need a cost of living package, they just buy property and get the state to pay for it housing refugees. How is this not a conflict of interest? We live in a very corrupt little country.
Err, not ‘air’ on one side, paragraph 5 in article. Most people assume journalists can spell so therefore will copy mistakes. I will now message the author to correct this mistake. Annoying.
@Maria: Every single article on The Journal has mistakes. I can’t understand how you can write for a living and not bother to check your work before publishing.
There is no point in reading articles about the government on the Journal. The commenters just rant, and produce no evidence to support their empty ravings.
Sad that we’ve dropped to this rabble-rousing as a substitute for reasonable debate.
@Nick Vasilakis: I would say there’s an abundance of evidence now , of all the huge plethora of payments being given out from my taxes to our guests
Cost of Living = None
Motor Expenses / Pet bills / and about 17 more payments= Of course ,, we are a government for our guests after all
“Taxpayer money can be used for car repairs for eligible persons, including Ukrainian refugees, the Department of Social Protection has confirmed to Gript.”
@AnthonyK: and also confirmed , proof of all assets ,monies , bank statements etc ,
Process takes months normally
Now.please explain how a Kiev resident can have the same process applied equally
But the uncomfortable truth for.you , how do Irish people.qualify for the pet payments and the 3.5 times higher college grants ????
A tad sectarian wouldn’t you agree ??
have your say