The Storm: It's Budget 2027 Day!

Good morning. From 1pm today, the Budget will start spilling out - beyond what’s already been hinted at and leaked, that is. Below, you’ll find some of what we know so far, alongside today’s other business stories. And if you’re just as invested in today’s happenings and can’t wait until tomorrow’s edition, Your Morning Tá’s Instagram and LinkedIn will be covering the Budget throughout the day. Let’s get into it.

1. Income Tax Cuts Are Back. Budget 2027 will bring back a personal income-tax package after not least but an effective tax increase last year, with the point at which workers enter the 40% rate set to rise alongside changes to tax credits and USC. The final figures are still being nailed down, but Simon Harris has also said he wants tomorrow’s changes to become the starting point for further income-tax reductions over the next four budgets. For employers and workers, this is the Budget’s clearest move on take-home pay.

2. MetroLink Gets €8bn To Get Moving. MetroLink’s funding allocation to the end of the decade is set to quadruple from €2bn to €8bn, with another €6bn being brought to Cabinet for the 2027-2030 period. The project is now expected to cost €15.75bn overall and was cleared in September to move into detailed tendering. Significant enabling works are expected to begin early next year, with tunnelling and station construction to follow. After years of planning, the important change is that MetroLink is moving into procurement and actual site work. Hallelujah.

3. Ireland Gets Its New Investment Account. Budget Day will fill in the missing numbers on Ireland’s new savings and investment accounts, but much of the structure is already settled. They will be open to over-18s, have no minimum contribution and allow investment in shares, listed bonds and funds including ETFs, while cash, crypto and derivatives are excluded. Most importantly, deemed disposal will not apply inside the accounts. The tax-free threshold, annual contribution ceiling and tax charged above that threshold will determine whether the scheme actually changes how Irish households invest.

4. Company Formations Hit A Record. Almost 22,000 new companies were registered in Ireland in the first nine months of 2026, the highest total recorded for the period and 8% ahead of last year. IT led the increase, with formations up 54%, while new motor companies rose 23%. Registrations do not tell us how many of those businesses will ultimately trade, hire or survive, but the record still points to plenty of new commercial activity being put on paper.

5. Kestrel Adds Kinsale In Wealth Management Push. Kestrel Capital has agreed to acquire Dublin-based Kinsale Capital as consolidation continues across Irish wealth management. The deal is subject to regulatory approval and would lift Kestrel’s assets to €1.5bn at completion. The firms did not disclose a price, although the Sunday Times reported a figure of €10m. Backed by IK Partners, Kestrel has been hiring senior industry figures and looking for complementary acquisitions, so Kinsale fits a wider push for scale rather than a one-off deal.

Global dealmaking fell 42% quarter-on-quarter to $986bn in Q3, dropping below $1tn for the first time since the latest US trade war began. Spain’s Pedro Sánchez has called a snap election for 29 November after parliament defeated his government on housing legislation. Schneider Electric agreed a $23.7bn takeover of US software group PTC, while OPEC will keep November oil-production targets unchanged as export disruption continues. Meanwhile, Germany and France want the EU to develop powers allowing it to cut countries off from the single market in extreme trade disputes, with China and Europe’s reliance on critical supply chains firmly in view.

Legal & Regulatory

Legal & Regulatory news today is largely about risk pricing in the last week, with the parties on the receiving end pushing back.

Chief Justice Donal O'Donnell opened the legal year by calling the criminal legal aid dispute a concern for judges generally, noting that some issues are before the courts, including the Supreme Court. The row began in June over the €520 flat fee for District Court cases. Solicitors warn of further delays for victims and people awaiting trial.

At Dublin Airport, the IAA's draft determination would cut passenger charges 15% to €8.85 in 2027, from €10.39. Ryanair wants the regulator to test whether DAA's €5.4bn five-year capital plan is needed at all, while DAA says the draft ignores a likely 40 million passenger cap.

Tullow Oil closed down 47.3% at 10.26 pence after an International Chamber of Commerce tribunal ruled against it in a $196.5m tax dispute with Ghana. Debt stands above $1bn and the company is weighing next steps. Separately, gardaí arrested four men on suspicion of insider dealing after a Central Bank referral. Two were released without charge, with a file going to the DPP, and two were still detained when gardaí issued their statement. An arrest is not a charge.

The CCPC has joined an EU investigation into nine games makers, including the companies behind Candy Crush and Minecraft, over in-game pricing and pressure to spend. There are no findings.

Watch whether today's Budget funds civil legal aid, which FLAC says the Minister has committed to.

In Wednesday’s Tá, the Sector Spotlight will be Finance & Markets.

Tuesday – On the Move…

Andrew Mathers, Daniel O’Sullivan And Ross Kavanagh, Unio Wealth Management: Hired as directors as Unio expands its regional and private-client offering. Mathers will lead regional growth after 20 years heading Goodbody’s Cork office, O’Sullivan joins the Cork team after roles at Goodbody and Credit Suisse, while Kavanagh moves into Unio’s independent wealth team in Dublin.

Oonagh O’Hagan And Darren Hardiman, Meaghers Pharmacy: O’Hagan has moved into the group chief executive role, focusing on long-term strategy, partnerships and governance, while Hardiman becomes managing director with responsibility for day-to-day operations. Meaghers is targeting €50m in turnover within two years.

Gerry Thornton, Matheson: Appointed head of tax, overseeing what Matheson describes as the largest tax department among Irish law firms. Thornton has been a partner since 2011 and advises private fund managers, financial institutions and multinationals across corporate tax, transactions and disputes.

Emmet Ryan, Damien McInerney, Mairead McElvaney, Gillian Earley, Steven O’Brien And Maureen O’Reilly, Fitzpatrick & Heavey: Appointed across construction, quantity surveying, marketing, sales and finance as the group expands its development activity. Fitzpatrick & Heavey currently has 650 homes under construction and more than 4,000 in its wider pipeline.

Budget Day used to have proper jeopardy. In 1970, Charles Haughey fell off a horse on the morning of the Budget, leaving Jack Lynch to deliver it instead. In 1982, a Budget remembered for VAT on children’s shoes helped send the country to an election. And in 1995, leaks were serious enough that junior finance minister Phil Hogan resigned. Different times.

Now the Budget arrives less like a surprise party and more like a television series released one episode at a time. Ireland moved Budget Day from later in the year, December, to October in 2013, but Budget season somehow got longer. Somehow, we've also double the number of Minister's taken to deliver the budget as well, and by the time Jack Chambers and Simon Harris stands up today, weeks of briefings, negotiations and leaks will have told us plenty.

The first Budget speech was only televised in 1991. Thirty-five years later, the greater challenge might be finding something in it nobody has already read.

The Read – Business Post – Raising the bar: Meet the Irish founders betting on creatine’s boom (Requires Free Account)

Milo O’Donohoe and Tom Glynn have taken Creatime from roughly 10,000 bars sold in its first month to listings in 172 Circle K stores in Ireland, with Holland & Barrett also stocking the product across around 300 stores in the UK and Ireland. The pair have raised about £1 million so far and are considering another funding round next year. The more interesting part is the product-building story: it took 60 to 70 iterations to get an unstable ingredient like creatine working properly inside a protein bar. Link: Raising the bar: Meet the Irish founders betting on creatine’s boom

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