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Wednesday 25 April 2018

SF plan to raise €2.6bn in tax hikes for jobs

Michael Brennan Deputy Political Editor

SINN Fein is seeking a further €2.6bn in tax increases and spending cuts to pay for its new jobs plan.

The party is seeking to invest €13bn to create 136,000 jobs over four years -- but there are major question marks about where the funding will come from and whether these jobs will actually materialise.

Sinn Fein TD Peader Toibin said details of the €2.6bn to be raised in taxes and cuts would be provided next month.

"There's no doubt in my mind that we will have a fully costed budget submission, which will identify where the money will come from," he said.

Sinn Fein's 60-page document contains an array of promises to spend €5bn on improving the energy efficiency on 500,000 houses, €2.5bn on next-generation broadband and €1bn in wind and wave energy projects.

But the party wants to use the entire €5.8bn remaining in the National Pension Reserve Fund, which would leave nothing for future public pension costs.

Sinn Fein's other sources of funding are €3bn from private pension funds and €1.5bn from the European Investment Bank.

Irish Independent

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