Budget day is one of the most important days in the Houses of the Oireachtas calendar. On budget day, the Minister for Finance presents the Budget Statement to Dáil Éireann. The Budget Statement outlines the general economic and fiscal outlook and the changes the Government proposes to make to taxes and spending. TDs have the opportunity to make speeches in response to the Budget Statement.
After the Budget Statement, the Government moves financial resolutions, and Dáil Éireann debates these resolutions. The debate may be held over a number of days. If the Dáil does not agree to the Government’s financial resolutions, a vote is called and the resolutions are declared carried or lost.
After the budget
In order to implement the changes it proposes in the Budget Statement, the Government may need to ask the Houses of the Oireachtas to amend certain legislation. It does this by introducing Bills. For example, to change the amount of tax levied, the Government introduces a Finance Bill and to change social welfare payments, the Government introduces a Social Welfare Bill. These Bills are normally debated and passed by the Houses of the Oireachtas by the end of the year.
The Oireachtas and the budget
For more information on the role the Oireachtas plays in the budget, see the L&RS infographic.