Ritual of Budget Day remains the same

One of the biggest events in the political calendar, Budget Day is an annual ritual that has changed little over the years.

But its overall importance to the Irish economy has dwindled since the days of volatile interest rates and high unemployment in the 1970s and 1980s.

The battered old briefcases of previous finance ministers like Ray MacSharry and Alan Dukes have made way for the CD Rom brandished by Brian Cowen today.

But the political theatre, ritual secrecy and media frenzy surrounding Budget Day remains the same and creates a unique buzz around the corridors of power in Leinster House.

Several weeks of painstaking work culminates today for Mr Cowen as he delivers his longer-than-usual 75-minute Budget statement to a packed Dáil chamber.

Before then, hundreds of copies of the bound document remained under lock and key in bankers’ boxes in the Finance Department’s basement.

The Finance Department had warned the media that no Budget details could be published or broadcast until Mr Cowen had referred to the issue in his speech.

With increasing media interest over the years, Mr Cowen will also today endure countless photocalls and media interviews before he calls it a day well after midnight.

He appeared well-groomed and relaxed as he posed in the drizzle outside Government Buildings in mid-afternoon with wife Mary and daughters Sinead, 14 and seven-year-old Maedhbh.

He chose a navy suit with striped red and blue tie for the final official photocall at 2.50pm.

Inside Leinster House, security was stepped up with extra gardaí and ushers, and a sniffer dog patrolled the Dáil chamber.

Former Rainbow Government Finance Minister Ruairi Quinn said: “It can be a very daunting and exhausting day for the minister with an endless round of photographs and interviews.

“But at the end of the day, 95% of what is in the Budget has already been in the Estimates a month earlier.

“It’s also one of the most heavily-leaked Budgets this time around and I think the Government deliberately used this as a party-political tactic.”

Alan Dukes, Finance Minister 1982-86, described the media frenzy around Budget Day as ridiculous.

“It’s crazy and faintly ridiculous,” he said.

I never gave interviews before the Budget Day. Why should you? You can’t say anything.”

“I can’t understand how the media and public get so exercised in the days beforehand when they will know everything within two hours.”

Albert Reynolds, former Taoiseach and Finance Minister 1988-1991, believes the Budget is much less important than it was in the 1980s.

“In my time the Budget was a big deal and affected things like jobs, emigration and the national debt.

“Now international market trends seem to have a bigger influence on the Irish economy and what the Budget says pales in comparison.”