WHEN he walks into his Department in Merrion Street today, the Minister for Finance, Mr Charlie McCreevy, will be briefed by senior civil servants about the extraordinary buoyancy of the public finances and the economy generally. But he will know that he still faces a difficult task, which will at times leave him at odds with Cabinet colleagues.
Mr McCreevy is the man who must deliver on the Coalition Government's tax promises. But he will know that his key priority must be keeping the economy on track for monetary union. And he will realise that if economic growth slows, the twin objectives of cutting taxes and preparing for the single currency could conflict.
As an accountant and a man who has already read widely on the single currency, Mr McCreevy should be well prepared for his new job. He has followed the brief closely over the past few years as the Opposition spokesman and so should hit the ground running.
He is the Minister who will manage the historic transition to the single currency, due on January 1st, 1999. There is already intense market speculation about monetary union, and the new Minister may have to face market turbulence in the run up to the final locking of currencies. And he will have to represent Ireland in key talks later this year which will decide the final shape of monetary union.
One of his immediate tasks will be to examine "the books", as the 1998 budget will be delivered in just five months, and much must be done if the new Government's mark is to be clearly seen.
Mr McCreevy is aware that the electorate has very high budget expectations. The Coalition parties have already promised to introduce a new 20 per cent tax rate, cut the top 48 per cent rate and devote considerable resources to widening the standard rate income tax band.
But there are large spending commitments already hanging over his head. Public service pay promises to nurses and teachers, as well as possible rises for clerical workers and gardai, will eat up much of Mr McCreevy's leeway on spending.
Judging by his record, the Minister is likely to take a Gogh public spending approach. Mr McCreevy has a long record of preaching fiscal rectitude. But now he will have to practise it. He attacked the last government for its spending approach. But he will quickly have to win the support of his Cabinet colleagues for controlling spending. And in this area, the support of Mr Ahern will be crucial.