Ireland must meet “unprecedented challenges” in areas such as housing and infrastructure against a backdrop of significant economic threats, political leaders will say on Monday.
Taoiseach Micheál Martin and Tánaiste Simon Harris are to address the National Economic Dialogue, a pre-budget event taking place at Dublin Castle involving trade unions, employers and other interest groups.
Minister for Finance Paschal Donohoe and Minister for Public Expenditure Jack Chambers are also due to speak.
In his opening address, Mr Martin will outline the dialogue’s importance in the planning process for Budget 2026 and the years to follow at a time of global uncertainty and “unprecedented challenges”.
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He will advocate for accelerated delivery of housing and infrastructure, as well as projects in the areas of health, energy, water, disability and child wellbeing. Climate change is the “existential challenge” of our time and will be central to Government deliberations and priorities, he will tell the event.
The Fianna Fáil leader will call for “courage and ambition” to be matched with careful planning and management of the national finances, pointing to the allocation of billions of euro to long-term investment funds in recent years.
However, he will say the country has to prepare by “controlling the controllables” and being ready to take “brave and difficult decisions” on housing and infrastructure in order to “seize opportunities for growth”.
Meanwhile, Mr Harris will tell the event that the threat of further tariffs represents “the most serious challenge to transatlantic economic relations in generations”.
He will argue that the European Union must remain steadfast in pursuing “substantive, calm, measured and comprehensive dialogue” with the United States in order to avoid the imposition of further levies.
The Tánaiste will say this year’s budget must be framed to ensure Ireland remains competitive in a turbulent global economy. He will say the greatest challenge and strain the Irish economy faces remains housing, and that the upcoming budget and National Development Plan must prioritise the construction of homes.
Mr Harris will also focus on the importance of Ireland taking its own actions to boost competitiveness and protect businesses. He will also stress the need to reduce barriers at EU level so businesses can grow.
The Fine Gael leader will also say that EU plans for regulatory reform cannot mean “a race to the regulatory bottom”.
“It has to be about better regulation, not deregulation.”
Mr Donohoe will tell the event a revised EU fiscal framework means, in practical terms, that the Government must commit to a defined path for net public expenditure for the next five years.
Mr Donohoe will warn that the State’s headline financial surplus “masks considerable vulnerabilities”.
“Much of the headline balance arises from a handful of large multinationals and, as I mentioned, the mood music is changing. It is not appropriate – indeed it could be dangerous – to plan on the basis of these receipts being permanent,” he will say.
