Jack Chambers vows to forgo 'giveaway' budget by planning for the long term

The new Finance Minister does not support the idea of increasing the TV licence fee but would not say whether he would favour a reduced fee paid by more households

Minister for Finance Jack Chambers said: 'We are in a good space right now but we have wider economic risks, external in nature, which we don't control.' Photo: Sam Boal/Collins Photos

Budget 2025 will be careful and sensible, new Finance Minister Jack Chambers has said.

There was no news on a specific date amid some speculation that this year's budget could be called early. The date will be decided as part of the Summer Economic Statement which is due in just under two weeks' time. 

Mr Chambers said he would resist opting for a 'giveaway' budget, saying the Government must plan for the long-term.

"We have to be cognisant of the wider economic picture and also the risks that are there to the Irish economy," he said. "Yes, we are in a good space right now but we have wider economic risks, external in nature, which we don't control."

On his first day as finance minister, Mr Chambers said the people of Ireland want to see sustained progress over a number of years rather than see what is given today, taken away in two or three years' time.

While inflation has levelled at 2%, the cost-of-living crisis is not over as many people are still facing rising costs in terms of certain goods and services. The minister said this would be taken into account in the context of Budget 2025 as they seek to support improved living standards for families who are under pressure.

Addressing plans for the future funding of RTÉ, Mr Chambers said maintaining a direct payment or contribution from the public was of central importance.

He does not support the idea of increasing the TV licence fee but would not say whether he would favour a reduced fee paid by more households.

Mr Chambers called the hoax bomb threat made to Taoiseach Simon Harris's home on Wednesday night "particularly insidious" given his wife and children were in the house at the time.

Any person who seeks to undermine democracy through threats and intimidation should be subject to investigation by gardaí, said Mr Chambers, adding the incident was being taken very seriously.