Sinn Fein budget 'would close down country' - Taoiseach

Niall O'Connor and Philip Ryan

October 08 2014 11:45 PM

SINN Fein's budget proposals would "close down the country", Taoiseach Enda Kenny has warned.

Mr Kenny yesterday launched a scathing attack on the alternative Budget put forward by Sinn Fein - which he claimed would create a top rate of tax of 73pc.

During heated exchanges in the Dail, Mr Kenny said Gerry Adams's party was guilty of fantasy economics. He was responding to a proposal contained in Sinn Fein's pre-Budget submission, which would see the introduction of a new third rate of income tax on incomes of over €100,000.

The party said such a measure would generate €448m in revenue.

But Mr Kenny said it would decimate the incomes of workers.

"And if you want to close down the country, then that's the kind of economics that you should be proceeding with - because it's not credible and it's not real," Mr Kenny said.

The tense exchanges took place after Mr Adams presented his party's proposals just days before Budget 2015 is revealed.

Among the plans are the abolition of water charges, which the party says will save €300m. The party also proposes a pay cut for TDs and senators and the scrapping or suspension of internship schemes, like JobBridge and Gateway.

Sinn Fein's Finance spokesperson Pearse Doherty said a number of its core proposals, such as the introduction of a wealth tax, could not be costed by the Department of Finance.

However, he said such a measure will still be pursued by the party in future budgets. Other measures which the party said could not be costed were the introduction of a tax on sugary drinks, a ban on below-cost selling of alcohol and increasing the taxes on the exploration or drilling for oil and gas.

Mr Adams described his party's proposals as representing a "republican Budget". He called on the Government to introduce a Budget that was "fair, affordable and sustainable for citizens who have borne the brunt of austerity".

Irish Independent