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The Floating Voter: Budget Preview Special: Where will the money come from?

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Sinn Fein’s Eoin O Broin (Niall Carson/PA)

Sinn Fein’s Eoin O Broin (Niall Carson/PA)

Sinn Fein’s Eoin O Broin (Niall Carson/PA)

Sinn Féin would spend a massive €88bn on unemployment payments, new hospitals beds and affordable homes in the Budget if they were in power - but the party’s housing spokesperson Eoin O’Broin insists the revenue is not coming from a ‘magic money tree’.

In a special pre-Budget interview on this week’s Floating Voter podcast, Mr O’Broin talks through Sinn Féin’s freshly published submission ahead of the Budget on Tuesday.

The party is proposing a major €900m investment in hospitals which would see 1,100 extra beds put into system with another 100 specifically for intensive care units. They also plan to spend €150m hiring new doctors, consultants and nurses.

Meanwhile, another €1.5bn will be used to pay for 12,000 social housing units, 4,000 affordable rental homes and 4,000 affordable purchases homes.

They also plan to increase jobseekers and disability payments by €5 per weeks and the State pension by €3.

Mr O’Broin says among the measures used to pay for all the spending commitments is a new 3% ‘solidarity tax’ on all incomes over €140,000 per year.

Sinn Féin also plans to impose more taxes on international corporations based in Ireland with a specific target on intellectual property rights.

Next week, Finance Minister Paschal Donohoe will be on the Floating Voter podcast to discuss the measures he introduced in the budget.

The Floating Voter Budget 2021 Series is in association with EY Ireland.

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