Brian Keegan: Budget set to restore the ‘Reynolds equilibrium’

Our circumstances today share numerous parallels with 1991, when Albert Reynolds delivered the first ever televised budget speech

‘Since the Albert Reynolds era, our control over interest rates and exchange rates has been surrendered to the EU.’ Picture: Eamonn Farrell/Photocall Ireland

Corporation tax receipts up by an unexpected 40 per cent, inflationary pressures driving a bigger social welfare package, a two-tier corporation tax system, and disputes over pension payments. No, not 2021, but 1991, when the late Albert Reynolds delivered his budget speech, televised for the first time.

This Tuesday will be the same. There will be an economic update and forecast along the lines of “not too bad, but could be better”, a helpful reminder ...