Minister Chambers Opening Speech - National Economic Dialogue 2026

Good morning everyone. Is mór an onóir agus an phribhléid dom a bheith anseo libh go léir inniu.

I would like to echo the Taoiseach and Tánaiste’s warm welcome to you all today.

The National Economic Dialogue is very much a staple event in the Budgetary calendar and a meaningful opportunity for us to reflect on the challenges, the priorities and the opportunities we face as a country.

I do think it is important to state that we should not take for granted the openness and considerate nature of public discourse and the proud, long-established history of dialogue we have in this country.

It’s precisely this dialogue – sometimes robust but always respectful – that has helped our country to develop one of the best performing economies in the world.

That tradition is something we should be proud of,but something that also needs to be respected and nurtured and days like today, with people who are committed to and passionate about respectful engagement, that can deliver credible, long-term solutions allow us to do just that.

The same is true for how we should run our economy– with realistic outcomes focused on the medium and long term which delivers improved living conditions, builds better communities and protects our future. We must not take this for granted.

Yes, there are many challenges associated with a growing economy.

We have to do everything in our power to ensure that the economic growth we experience today benefits us not just today, but for decades to come. This set of challenges is preferable to choices faced by many other countries, who must seek to prepare for the future with far weaker growth and employment prospects.

This is what we have to protect against, and it is why Government has a credible plan to manage the economy and the public finances over the medium term.

Medium Term Plan

Government’s Medium-Term Fiscal and Structural Plan sets out an ambitious plan of further investment which will see public expenditure reach over €147 billion by 2030 and reflects enhanced prioritisation of investment in infrastructure and sustained levels of growth in current expenditure.

This is required to provide for a growing and ageing population and to deliver the quality public services that people expect in a modern thriving country.

The budget will grow by an average of 6 per cent each year to 2030, and while significant compared to many of our peers across Europe, this does represent a moderation of the rates of expenditure growth we have seen in recent years.

This means that delivering our medium-term expenditure plan will necessitate a real focus on reform, efficiency and value for money.

In practice, this means continually assessing the sustainability of all expenditure proposals, asking what can we afford? What do we want to prioritize? Where can we innovate and what can we do better – now and into the future.

It means critically assessing if what we deliver is adequate – what does our country need and where will investment be required to achieve this?

And it means considering how can we deliver value for money and tangible outcomes for the people of Ireland

People want to see results, whether that is faster access to services, reduced cost of living pressures, affordable housing, or shorter commute times associated with the delivery of critical infrastructure around the country.

This is our challenge and it’s why we have put in place a Medium-Term expenditure framework to respond to those challenges in a meaningful, but sustainable way.

We should not dismiss the progress that has been made.

Government has invested significantly in areas such as social protection, health, education, disability and in capital spending.

This has expanded public services and the frontline staffing that deliver them.

It has increased eligibility for supports so more people can benefit.

We have reduced the cost of services, and we have delivered infrastructure that improves people’s lives in a meaningful way.

In 2027, we plan to spend €125.5 billion.

This is real investment in the future of our country, but we need to continue to see positive outcomes on the ground that make a tangible impact on people’s lives.

Infrastructure

Infrastructure is one such area that can massively enhance living standards for people.

Over €20 billion will be allocated to delivering on the critical infrastructure needs of our country next year and over €275 billion will be provided over the next decade.

I and others in this room have repeatedly articulated just how important it is that we urgently turn this investment into projects delivered on the ground.

As a country, we do not have a choice. We simply have to go and build.

And it is important to say that Ireland can build.

Through the National Broadband Plan, the Luas and the National Roads Programme, Ireland has a track record of delivering major infrastructure, when the system works.

The challenge has been pace, and we are fixing that hrough the Accelerating Infrastructure Plan, which is already delivering.

98 per cent of commitments due by the end of Quarter 1 have been completed on time and all 30 actions in the plan remain on track.

Underneath this are 137 sub-actions and over 50 of these are now complete.

And we are starting to see progress on the ground with reduced timelines for key capital projects, simplified internal processes being implemented in delivery agencies, and reform underway to cut the causes of delays.

We are fast-tracking legislation to accelerate the consents of key national projects. The Critical Infrastructure Bill is now moving ahead at pace, with rapid progression through all stages in the Dáil and will be passed shortly.

We still face challenges on judicial review, but Minister O’ Brien and I have a signed an order on the scale of fees to bring cost certainty. We have also seen the withdrawal of a judicial review speeding up Metrolink, with tunnelling and Public Private Partnerships tender documents already launched ahead of schedule.

Our work here will continue.

Better Public Services

Infrastructure, while centrally important, is just one area where reform is necessary.

My view is that reform needs to be embedded across everything that we do.

Across all levels of expenditure, we need to look at how we allocate resources and we have taken steps recently to ensure that when we make additional allocations, we can do this on a sustainable basis while continuing to live within our medium-term plans.

Reform must go beyond the top line allocation for government departments. It needs to live within every programme, every service that we deliver, and it needs to inform how we see the State delivering services into the future.

Digitalisation presents a real opportunity here and through Ireland’s digital and AI agenda, we will bring through reforms that strengthen our economy, improve public services, optimising investment, and ensure we are building sustainably for the future.

The Digital Public Services Plan 2030 is a key part of putting this into practice.

This is not just about moving services online. It is about redesigning them around the real needs of people. Through the plan, services will become simpler, more joined-up and easier to navigate.

Delivered more efficiently, public services can reduce administrative burden, support enterprise and free up resources that can be reinvested to provide enhanced outcomes for people.

Public Pay

Seeking to ensure the very best value for money in everything we do is also the context within which we must manage our approach as a Government to upcoming discussions with public service unions and associations on public pay.

The current pay agreement expires at the end of the month. Government, for its part, would like to reach a new agreement.

In the coming days I will be instructing officials in my department to commence exploratory talks with the Public Services Committee of ICTU and other staff representation associations representing public servants to establish whether there is a basis for entering into formal negotiations to reach an agreed way forward on public service pay issues.

I believe our system of collective agreements in the public service since 2010 has served both our public servants - and our country - well. They have sought to manage public service pay - which accounted for a third of all current spending in 2025 - in a balanced way that is reasonable and fair to both public servants and the taxpayer. This will continue to be our objective as we embark on discussions.

The broad industrial relations stability which agreements have delivered has been a key asset for our country and its international reputation.

These will be very challenging discussions. The external environment is very volatile, and this has implications for a small open economy like Ireland.

There are limits to what is possible and sustainable given the many competing demands that this Government faces.

The Government will approach any process in good faith and with the objective of reaching a fair agreement. I want to explore over the coming weeks whether such an agreement is possible, and we will listen to all views. However, as ever, it cannot, nor should it be, a question of agreement at any price.

I hope that a reasonable solution on public pay can be achieved, which recognises the scale of investment Government is making to the benefit of workers across the labour market, including our public servants.

Conclusion

Once again this year, the NED provides an important opportunity to hear from a broad spectrum of perspectives.

As a society, there will always be immediate concerns or pressures.

Often, these will require immediate solutions, but as we respond to the challenges we face, we must do so in a way that respects our medium-term plans, embeds reform in everything we do and delivers meaningful improvements to people’s lives.

Everybody in this room has a part to play in this.

We all have a stake in Ireland’s future and our potential, and I am looking forward to hearing how we deliver on these priorities collectively throughout the day.

ENDS.