Workers Party Statement on Budget 2026
The President of the Workers Party, Cllr. Ted Tynan has described the recent budget as “Trump-like”, with a further transfer of wealth from workers and their families to the rich.
“The government parties of Fianna Fail, Fine Gael and their Lowry hangers-on have shown their contempt for Irish workers by introducing a budget, as a result of which, most people will be worse off than they were before it.”
“According to the ESRI the average person will be at least 2% worse off as a result of the budget, with lower paid workers, pensioners and people with disabilities even more so.”
“Finance minister, Pascal Donoghue, claimed that there wasn’t scope in the budget to increase tax allowances and bands for PAYE workers to even keep pace with inflation, or to provide any more than minimal increases to welfare recipients.”
“This is a lie.” said Cllr. Tynan.
“He and his Fianna Fail counterpart, Jack Chambers, had no problem in cutting the V.A.T. rate on hospitality from 13.5% to 9% from 8 October 2025 until 31 December 2030, at a cost of almost €700M in a full year.”
“This is unlikely to benefit consumers and most of this will not go to small cafes, as claimed, but to multinational fast food companies like McDonald's, who made a profit of €42M in Ireland last year, and whose Israeli franchise has been supplying free meals to members of the IDF, when they return from their murderous campaigns in Gaza and the Palestinian West Bank.”
“The F.F. and F.G. ministers were able to find another €250M for V.A.T. reductions to developers of apartments, most of whom are vulture funds. This is money that should have been used to reduce the cost of houses for workers. Meanwhile, the national minimum wage will increase by 65 cents!”
“The two largest banks between them made a combined profit of over €5Bn in 2024 but paid no corporation tax on these profits. If they were taxed at the corporation tax rate of 12.5% it would have realized €625M, which could have been used to build houses, reduce hospital waiting lists or employ many special needs teachers. In the case of Bank of Ireland alone, it distributed €1.2Bn to its shareholders.”
“The Budget has failed to take measures to improve conditions for working people and the poor. Vulnerable Groups remain at risk. Welfare payments remain insufficient to meet basic needs. Inequality is widening. The housing crisis is deepening with no progress in reducing homelessness or improving affordability.”
“The fact is that this budget showed Fianna Fail and Fine Gael made deliberate choices to transfer Irish taxpayers’ money to their wealthy backers in the super rich corporate sector.”
“In doing so, they have shown themselves to be true to their political colours – as parties completely wedded to the capitalist ideology exemplified by the EU and US which drains workers of the fruits of their labour and transfers the wealth they create to the parasitic class that rules them.”
“While there is money for the militarization of the European economy, workers and their families will pay the price. Until workers throw off the shackles of capitalism and the parties that prop it up, it will always be so", said Cllr. Tynan.