Charlie McCreevy was never likely to listen to Labour's call to borrow up to £1.22 billion in the Budget. But Labour's finance spokesman, Derek McDowell, ploughed on with fiscal proposals that brought the party back to the "tax and spend" mode.

At that stage, it looked as if Mr McCreevy needed to borrow £500 million. However, once the big day came, there was no need to go looking for a loan at all.

Doubtless, this was a boon for the Minister, whose performance on Wednesday was his fifth in an unbroken series.

Indeed, so confident was Mr McCreevy that the Government would be returned to power after the election that he held out the prospect of his colleagues triumphantly quaffing champagne in the Dβil.

At Mr McDowell's briefing on Sunday, the mood was no less jolly, although the "LA" in the "LABOUR" sign fell from the wall at one stage. Mr McDowell did not seem to think this was ominous at all. "Optimistic" was a word he used when asked if Labour would present the Budget next year.

That's the champagne spirit, eh.