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Dublin: 10 °C Tuesday 18 June, 2019
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More childcare, schools and capital spending, and lots of tax changes - Sinn Féin's budget proposals

TheJournal.ie have received an advance copy of the party’s “alternative budget” to be unveiled today.

Pearse Doherty Sinn Féin Finance spokesman Pearse Doherty and new TD Louise O'Reilly protest against the Government's response to the EU Commission ruling on Apple tax last month. Source: Rollingnews.ie

SINN FÉIN HAS announced an “alternative budget”, which would abolish water charges and property tax, subsidise childcare and raise taxes on those earning over €100,000.

Capital spending proposals outlined by Sinn Féin last week would add €1.25 billion to existing government infrastructure plans.

This morning, the party unveiled its overall Budget 2017 proposals.

Taxes

As well removing the property tax, Sinn Féin say they would:

  • Raise capital acquisitions tax (CAT) from 33% to 36%.
  • Introduce an extra 7% tax on the portion of individual income earned over €100,000.
  • Introduce a new 15.75% rate of employers PRSI on the portion of salary paid in excess of €100,000 annually.
  • Reintroduce the second home charge (non-principle private residence tax) of €400 per annum.
  • Scrap plans to raise the inheritance tax threshold to €500,000. They say that the move would cost €75 million, and solely benefit just 2,128 people.
  • Introduce a 3% tax on betting shops and online betting exchanges.
  • Increase the price of cigarettes by 50 cent.

SF Sinn Féin TDs Donnchadh Ó Laoghaire, Mary Lou McDonald and Kathleen Funchion launch childcare proposals last week. Source: Rollingnews.ie

Other measures include:

  • Raising the bank levy by 10%.
  • Ending the reduced 9% vat rate on hotel rooms (but maintain it for bars and restaurants).
  • End ‘Double Irish’ tax mechanism for corporations, currently due to end by 2021.

Sinn Féin also wants:

  • €111 million to be spent on cutting childcare fees by an average of €96 per week;
  • the abolition of water charges and the property tax, costing €498 million combined;
  • And €500 million for school buildings, smaller primary school classes, “tackling third-level fees” and 1,000 additional apprenticeships.

It also has ambitions for the health service, however it allocates just €267 million extra for:

  • 500 additional hospital beds;
  • reducing the prescription charge by €1 each;
  • increasing ambulance cover;
  • and improving mental-health services.

Eoin O Broin Sinn Féin Housing spokesman Eoin Ó Broin. Source: Rollingnews.ie

The party also wants to spend €270 million on:

  • raising the state pension by €5.70 a week, and
  • ending the current situation whereby some 65-year-olds must apply for the jobseekers’ allowance by restoring the full state pension to the age group (a €45 per week raise).

The budget proposal also mentions “backing rural Ireland” by creating jobs, restoring the farm assist payment and improving staffing of rural schools.

It also wants to employ more speech and language therapists and resource teachers, increasing respite care services by 20% and increasing disability and carer’s allowances.

Read: A hard rain’s a-gonna fall: it’s lashing out West (but other counties will stay dry)

Read: Clinton seizes offensive as Trump claims soldiers with mental health problems “can’t handle it”

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