At the beginning of the millennium, we launched a competition for college students with the goal of bringing them closer to the mechanics of the national Budget. On an annual basis, students from across third-level institutions participate in our Fantasy Budget competition, critically analysing the recently announced Budget measures and proposing their own measure to fill a gap.

This year we had over hundreds of teams, consisting of three to four students, think like the Minister for Finance with a focus on key measures impacting individuals/families, Irish businesses and foreign investment in Ireland. After much deliberation, our esteemed judges, Jim Power and Brendan Keenan, managed to select and separate the top three teams by a hair.

Congratulations to:

• 1st place – University College Cork: Jane Brereton, Jessica Doody, Eimear McGee and Catherine Cooney with lecturer Mark Barrow
• 2nd place – DCU: Daniel Bernotas, Andrew Goulding, Matthew Flood and Liam Naughton with lecturer Dr. Patrick Mulcahy
• 3rd place – University of Galway: Ainla McSharry, Amy Kavanagh, Aoife Deveraux and Niamh Loughran with lecturer Mary Cosgrove

On Wednesday 28 January 2026, our President, Shane Wallace, welcomed the three teams and their lecturers to our offices in Grand Canal Dock. Before enjoying some lunch, each team was presented their prizes in recognition of their achievement in the Fantasy Budget competition. See photos from the event on our Flickr account.

Thank you to all participants, the standard of the submissions was very high this year. You can read more about the winning submissions below.

1st Place – University College Cork (UCC)

L–R: Shane Wallace, Institute President, Jane Brereton, Catherin Cooney, Eimear McGee, Jessica Doody and Mark Barrow, UCC lecturer.

The winning team critically analysed

• the introduction of auto-enrolment
• the increased spending on the National Bovine Tuberculosis Eradication Programme
• the “modest” changes to Ireland’s R&D tax credit system.

For their own Fantasy Budget measure proposal, the team would have introduced a new scheme to encourage digital upskilling called “UpSkillMe”.

This proposed scheme would target mid-career and older workers to address the digital skills gap including the slow adoption of AI among those aged 45-64. They suggest this scheme would strengthen Ireland’s innovation capacity and maintain its international competitiveness, and would raise social equity as all citizens, regardless of background or sector, could participate fully in technological progress.

2nd Place – DCU

L–R: Shane Wallace, Institute President, Liam Naughton, Daniel Bernotas, Matthew Flood, Andrew Goulding and Dr. Patrick Mulcahy, DCU lecturer.

The team provided insights into

• the increased income threshold for third-level students applying for SUSI grants
• the extension of the KEEP scheme by three years
• the benefits companies would gain from a greater R&D tax credit

As the Minister of Finance, the team would introduce a “Frontline Students Payment” for student nurses, midwives, pharmacists and doctors in their Fantasy Budget. They argue that the existing supports for travel and accommodation are insufficient and the introduction of a tiered apprenticeship-style pay system would help attract and retain these frontline workers.

3rd Place – University of Galway

L–R: Shane Wallace, Institute President, Ainla McSharry, Amy Kavanagh, Aoife Deveraux, Niamh Loughran and Mary Cosgrove, University of Galway lecturer. 

The team provided analysis into

• the impact of auto-enrolment
• the increased spending on infrastructure and apprenticeships
• the raised R&D tax credit first-year payment threshold

The team recommended a new incentive to convert vacant properties into student housing which would address the housing shortage and large vacancy rates. The proposed policy would combine a 0% VAT rate with 100% accelerated capital allowances, particularly in year 1, towards these conversions. The projects would include rent caps and support SUSI-eligible students, and would be managed through local authorities and housing bodies.