The Minister for Finance has started delivering Budget 2015.
Mr Noonan set the scene for the first payback for a country crippled by bank debts.
“This Government will not be returning to the boom and bust model of the past that has spectacularly and repeatedly failed the Irish people,” he said.
Outlining economic forecasts, Mr Noonan told the Dáil he expects GDP growth of 4.7% this year and 3.6% next year.
Finance Minister Michael Noonan has said that unemployment is expected to be just above 10% in 2015.
He said the Government expects the deficit in 2014 will be 3.7%, well beating the Troika target of 5.1%.