The Minister for Finance ruled out further tax reform on the scale of recent years.
Mr McCreevy said it was virtually inevitable that while economic growth should remain reasonably strong by international standards it was likely to be subdued in comparison with the exceptional performance of recent years.
"Realistically, there is unlikely to be scope in the near future for further across-the-board tax-cutting on the scale of the past five years.
"But, equally, we must avoid going back on our achievements, and I would pledge on behalf of Fianna Fáil that we will not increase direct tax rates if the Irish people re-elect us to government."
Mr McCreevy said that the philosophy behind the Government's reforms was a conviction that the tax system should be fair and equitable for all.
"Our opponents accuse this Government of being dedicated to advancing the wealthy at the expense of everyone else. I would submit that the facts tell another story."
He said that in the Government's five budgets there had been €4.8 billion in tax reductions."Forty-three per cent of those tax reductions have gone to increasing the basic tax allowances, or credits as they are now called, including the PAYE allowance.
"Next, another 22 per cent went into taking over 370,000 taxpayers off the top rate of tax. Then, over 16 per cent went to reduce the standard rate of tax paid by all taxpayers."
He said just 11 per cent of the tax reduction in the budgets went to the top payers of income tax.