Irish Examiner view: We must be prudent with tax windfall

Budget surplus

A ‘giveaway’ budget this year will be no surprise, even if Finance Minister Michael McGrath
and Public Expenditure Minister Paschal Donohoe have urged caution on such measures. Picture: PA

It is 43 years ago since the then-taoiseach, Charles J Haughey, went on television to address the nation with his famous “we are living away beyond our means” speech.

Haughey was later pilloried for having urged people to tighten their belts at a time when his own tax contributions were minimal and his wallet was getting fatter on the back of personal contributions by loyal supporters. This was a fact noted by a disbelieving people, many of whom were aware the economic difficulties of the day were, in fact, created by a succession of Fianna Fáil governments.