In a change to the convention, An Taoiseach Jack Lynch, delivered Budget 1970 in the absence of the Minister for Finance, Charles J. Haughey.

Minister for Finance Charles J. Haughey was injured in a horse riding accident on the morning of the budget, 22 April 1970. In his place, the Taoiseach, Jack Lynch, delivered a budget that doubled turnover tax and increased the old age pension.

Shortly afterwards, on 6 May 1970, Haughey was sacked as Minister for Finance over the arms crisis.