McGrath doesn't rule out once-off payments in Budget 2025

"The changed inflation environment will have an impact on our approach to the Budget and we did have a vast array of inflation related payments, exceptional supports, one-offs last year," he said on Morning Ireland.

He said it will be a different approach because inflation is coming back to the target level of 2%, which will mean a change of approach in terms of budgetary policy.He said he and Public Expenditure, National Development Plan Delivery and Reform Minister Paschal Donohoe will ensure that the public finances are carefully managed.

"Being in the position we're in does give us the capacity to have a tax package, to have a good welfare package, to invest in public services, to continue to spend more on housing and invest in public infrastructure," he said. "We anticipate interest rates falling this Summer and a further reduction in energy prices", Michael McGrath said.

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