WITH JUST HOURS to go before we find out what the next year has in store for our wallets – Finance Minister Michael Noonan and Public Expenditure Minister Brendan Howlin are giving an introduction to today’s Budget in a short video.

The Cabinet is meeting at Government Buildings this morning for the final checks and balances ahead of the Budget speech this afternoon.

It will be the first non-austerity Budget in seven years with no new spending cuts and a range of tax cuts expected.

In the above video, Noonan warns that “the purpose of the Budget is to secure the recovery of the economy…we want to get away from the boom and bust cycle…we want steady growth over the next 10 years.”

He once again committed to the tax cut: ”We’ll be able to give something back in tax to people who made so many sacrifices over the years.”

Howlin is also quick to point out that this year will be less harsh than previous years:

All the hard work has had a positive result and we’re in a position now to start spending again in a modest way.

Minister Noonan will begin his speech in the Dáil at 2:30pm – while Minister Howlin will speak at 3:10pm

Read: Where does all your tax money go?>

Read: Check out out these pictures of Michael Noonan on Budget Day… 23 years ago>