When Budgets Go Bad

Some budgets deliver stability — others end in political disaster. Ireland’s history is full of both. With Budget 2026 about to be unveiled, Ciara Doherty and Daniel McConnell, editor of the Business Post and co-author (with John Lee) of Hell at the Gates: The Inside Story of Ireland’s Financial Downfall, reflect on moments when budgets went awry.

From Ray “Mac the Knife” McSharry’s brutal cuts in the 1980s, to Charlie McCreevy’s boom-era generosity — and his short-lived attempt at tax individualisation that sparked a backlash from families — right through to Brian Lenihan’s crisis budgets during the financial crash, the podcast explores how misjudged measures can haunt governments for years.

Ciara and Danny also dig into why “budget kites” are floated in the media, what’s really happening in the lobbying frenzy at Merrion Street, and how secrecy around the speech itself can make or break public reaction. With over €2.2 billion in temporary cost-of-living supports on the line this year, can Paschal Donohoe and Jack Chambers avoid repeating the mistakes of their predecessors when they reveal their plans later today?

Stay with Newstalk for full coverage of Budget 2026 across the day, on air, online at newstalk.com, on Instagram @newstalkradio, and on the GoLoud app.