Charles J. Haughey prepares the public for what is to come in the 1980 budget.

When a broadcast by the Taoiseach, Charles J. Haughey, warned that, a community, we are living away beyond our means, 

the nation braced itself for Michael O'Kennedy's budget.

Haughey opens with the line:

I wish to talk to you this evening about the state of the nation's affairs, and the picture I have to paint is not unfortunately a very cheerful one.

The budget would see increased PAYE allowances and widened tax bands, along with increased indirect taxation. Taxes on the old reliables like cigarettes, alcohol and petrol, all went up. The Irish Farmers Association felt that the budget was extremely harsh on the farming community.