The Taoiseach has tonight pledged that Fine Gael will set out a five year plan for the upcoming election.

Enda Kenny has promised even more tax cuts if the Coalition are returned to power - but says they will not return to the boom and bust model.

He says even more reforms of welfare will be needed in the next five years to ensure that work pays for people. He says that the published plan will be 'detailed and fully costed'.

Mr Kenny outlined the main points of the plan at the annual IBEC President's dinner in Dublin tonight:

The Taoiseach explained that "given the ordeal the Irish people have endured during the downturn, they deserve to know what exactly the disparate groupings hoping for Government are proposing for the next five years. It’s not good enough to tell people what you’re against. You need to tell people what you’re for and how you intend to get there.

"I am confident that when the people examine the options before them that they will choose stability, progress and securing the recovery over ones that have ruined the economy or those that would ruin it," he added.

Ahead of the speech, Ireland's Fiscal Council - the watchdog which advises the government on fiscal issues - gave its approval to the Government's budget plan, but has warned against any move to increase spending or tax cuts any further.

In a pre-budget statement, it says that proposed tax cuts and spending increases of between €1.2bn and €1.5bn are economically prudent.

It had previously warned against a pre-election giveaway in next month's budget - but it now says that growth in Ireland's economy is strong enough to justify the extra spending.