The budget sets out the Government's budgetary targets for the following three years, outlines taxation policy and adjusts the already published abridged Estimates volume.
Why is this year's budget taking place in October?
Normally, the budget takes place in the first week of December, but due to deteriorating economic circumstances, the Government brought it forward this year to October 14th.
What happens on budget day?
• Minister for Finance Brian Lenihan will begin proceedings by appearing at a photocall, clutching a copy of his budget speech, at 10am. Following this, he will appear at another photocall, at 2.30pm, on the steps of the Department of the Taoiseach.
• The Minister will then deliver his speech, or financial statement, to the Dáil at 3.45pm.
• Having published the White Paper on Receipts and Expenditure on Saturday, which sets out the direction of the Government's finances for this year and next, Mr Lenihan will to outline the changes he intends to make to the public finances, covering areas such as social welfare, taxation and capital spending. This will be Mr Lenihan's first budget.
• Following his speech, a range of documents will be published giving further detail on the measures outlined, including:
• Summary of budget measures: an overview of the main policy changes;
• Budget statistics and tables: detailed budgetary projections for the next three years;
• Financial resolutions: these give temporary legislative backing for immediate budgetary changes;
• Stability programme update: an outline of the economic background to the Budget, this document sets out Government economic strategy over the following three years. It is produced in compliance with the EU Stability and Growth Pact;
• 2009 estimates for public services and summary public capital programme. At the end of the speech, which normally takes up to an hour, the Opposition spokesmen give their reaction.