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Mary Lou McDonald says this budget is for people who cannot afford to own a home under the current government. Brian Lawless

USC cuts, a private jet tax and scrapping carbon tax increases included in SF alternative budget

Mary Lou McDonald says housing is her party’s number one priority.

LAST UPDATE | 4 Oct 2023

“HOUSING IS SINN Féin’s “number one priority”, according to party leader Mary Lou McDonald.

Speaking at the launch of her party’s alternative budget today in Dublin, she said the budget package is €6.8billion total with a €1.35 billion cost-of-living package.

Cuts in the Universal Social Charge (USC), scrapping the carbon tax increase, halting toll increases and introducing a private jet tax are just some of the measures included in the alternative budget.

McDonald said the budget is aimed at anyone who doesn’t own their own home.

“Anybody who’s a sofa surfer, anybody who is living in the box room of their ma or da or grandparents’ house, anybody who is getting hammered with extortionate rent, people who are struggling and who each week doing their groceries, trying to meet their bills,” she said.

Meanwhile, housing spokesperson Eoin Ó Broin took aim at Fine Gael and Fianna Fáil, accusing the two parties of stealing Sinn Féin’s rhetoric on housing over the last number of years.

He said the two coalition partners never had an interest in cost-rental and affordable housing until Sinn Féín began trumpeting them.

Sinn Féin maintains that if it was in government right now, the budget it would deliver next week would deliver 21,000 social and affordable homes.

The party also promises to put one month’s rent back into renters’ pockets as well as banning rent increases for three years.

Ó Broin pledged to also ensure that no person over the age of 55 would be housed in emergency accommodation as it would deliver small infill social housing developments to tackle the issue.

When asked about when the Help-to-Buy scheme would come to an end under a Sinn Féin government, party leader Mary Lou McDonald told The Journal that there would not be a cliff edge for people who had been approved already, but she said it was the wrong policy for the government to follow.

Mortgage interest relief for those facing soaring interest rates would be in place out to July under the proposals, which would cost €140 million for 2023.

It was put to Sinn Féin’s Finance spokesperson Pearse Doherty that the proposal of increasing pensions by €10 seems to fall short of what the government is set announce next week.

Doherty said the proposal had to be seen in the round, stating that his party would also increase the living alone allowance by €15 and decreased medicine charges.

In addition, the Sinn Féin states it would:

  • Cut income tax, including USC, for those earning under €100,000 to increase the take home pay of low and middle income workers
  • A second home charge of €400 which would yield €308m
  • A pollution tax for private jets would being in €20m
  • Increase in Capital Acquisition Tax to 36%
  • Scrap the carbon tax increase
  • Increase excise of cigarettes by 30c
  • Reduce the cost of childcare by two thirds
  • Recruit an additional 1,000 gardaí
  • Ensuring the pension retirement age stays at 65
  • Set up a Citizens’ Assembly on Irish Unity

Wealth tax Commission

In what has been seen as a pivot by the party, Sinn Féin has moved away from a proposal in last year’s alternative budget of a wealth tax at a rate of 1% on net wealth above €1 million. 

The budget document for 2024 states that to date, there has been “too little analysis of the merits and design of a tax on net wealth”.

It states that while Sinn Féin supports the rationale for a wealth tax, one which achieves the objectives of efficiency and fairness, the party would now like to establish a Wealth Tax Commission. 

In terms of taxation, Doherty outlined how his party would reduce the first rate of USC from 0.5 to 0% and reduce the second rate to 1%.

There would also be an increase entry point to third rate to €25,959 and an increase of €50 in PRSI.

Sinn Féin says it would increase the social welfare payment by €15 and increase child benefit by €10.

The party also plans to introduce a “compassionate social welfare package” for the bereaved, while also providing free travel to those with Epilepsy who cannot drive.

On the cost-of-living measures, Sinn Féin would not proceed with excise restoration on petrol and diesel at the end of October and would cut household electricity bills reducing the price that electricity suppliers can change households.

“Sinn Féin are committed to investing in the future. This means investing in housing, health and climate action to deliver a fairer future for all.

“The crises in housing and health are the legacy of successive Fine Gael and Fianna Fail policies. More Fine Gael and Fianna Fáil budgets will only result in more of the same bad policies.

A Sinn Féin Budget is needed. Our budget proposals illustrate the type of change that a Sinn Féin government would deliver,” said McDonald.

Doherty said the budget that delivers for ordinary workers and families, and explained to reporters how his party was taking aim at “gold-plated” pensions by reducing tax subsidies that would bring in €336 million.

His party also plans to introduce a 3% solidarity tax on the portion of individual income above €140,000, which would raise €386 million.

“We are putting fairness at the heart of taxation policy. Sinn Féin’s tax proposals will reduce income taxes for those earning under €100,000.

“Our financial proposals would build affordable homes, tackle the high cost of living, reduce health waiting lists, respond ambitiously and fairly to the climate crisis and commence planning for a United Ireland,” said Doherty.

Fine Gael levelled criticism at the Sinn Féin budget today, stating that the alternative budget will increase tax on inheriting the family home by increasing the rate of Inheritance Tax (CAT) by 3%, from 33% to 36%.

It also stated that the figures were “plucked out of the sky” despite Doherty stating that the numbers are based on costings from the parliamentary budget office.

Social Democrats

Meanwhile, the Social Democrats has proposed a €2 increase on the minimum wage and a tax on super wealth. 

In its alternative budget, the party called for minimum wage rise would bring it to €13.30 an hour while the tax on net wealth would see 0.5% levied on assets in excess of one million euro and 1% on assets over two million euro in value.

Family homes, farms and businesses would be exempted from the suggested wealth tax.

“Low incomes that are impossible to survive on given the extremely high cost of living in Ireland are a huge concern,” said the party’s finance spokeswoman Roisin Shortall.

“We would increase the minimum wage by two euro to 13.30 euro per hour and introduce a living wage within the next two years.”

The budget plan includes a pledge to deliver 10,000 affordable homes in 2024. The party also recommends an increase to the renters’ tax credit,” she said. 

The Rural Independent Group’s alternative budget plan called for the budget surplus to be used to abolish the Universal Social Charge.

The grouping of opposition TDs said the cost of scrapping the USC would total around €4.4 billion.

But they insisted the measure was always meant to be temporary and the multibillion-euro surplus generated from corporation tax receipts now provides the Government with the headroom to axe it.

Group member and Tipperary TD Mattie McGrath described the USC as a “punitive” tax, as he accused Fine Gael of “disregarding” previous election pledges to scrap it.

“It’s a punitive and cruel tax and it must be abolished,” he told reporters at Leinster House.

The group has also proposed a €30 increase in all core social welfare payments, including the pension.

 

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    Install the app to use these features.
    Mute Eric Cosgrove
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    Dec 16th 2011, 2:36 PM

    These people have some F#%$^ing Neck

    139
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    Mute Jay funk
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    Dec 16th 2011, 5:57 PM

    The need a big neck to hang the gold chains off, just like B.A.

    25
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    Mute Kathleen O Toole Tighe
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    Dec 16th 2011, 3:03 PM

    Couldn’t be happier for her
    Did she really think the judge would believe her when she said she hadn’t a clue ,
    About time she got her comeuppance !

    117
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    Mute Declan Carroll
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    Dec 16th 2011, 6:00 PM

    They have necks like a jockey’s b*llix -

    32
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    Mute Gary Keegan
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    Dec 16th 2011, 2:54 PM

    Not according to the dumb fooks in Cavan who are still defending what this man has done. The poor Quinn’s railroaded by the government and NAMA.

    115
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    Mute Spillinksuz
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    Dec 16th 2011, 2:36 PM

    I’d say some how Mrs Quinn will just fine

    111
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    Mute Réada Quinn
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    Dec 16th 2011, 3:18 PM

    Delighted! Silly woman using the “stupid woman card”. Won’t wash anymore. Ireland’s waking from our slumber. All of us !!!

    97
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    Mute Rommel Burke
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    Dec 16th 2011, 3:07 PM

    Damn. I was hoping to use the old “I’m thick as sh**e, and the wife put fierce pressure on me to get a mortgage” line myself.
    Ah well, suppose i’ll have to try and pay it back now like the Quinns no doubt will……………..

    94
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    Mute Cormac Flanagan
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    Dec 16th 2011, 4:34 PM

    Ya was hoping to use it myself to get out of the mortgage. She’s ruined it for all of us.

    51
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    Mute Glyn Carragher
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    Dec 16th 2011, 10:10 PM

    No Ive just checked and it appears that Mrs Quinn did in fact sign as a guarantor for my loan to buy Italy … whaooo!

    11
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    Mute Bazza
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    Dec 16th 2011, 3:55 PM

    I have been unemployed for almost a year.

    I got a ‘dear john’ today on a role I put a lot of time and work into getting.

    I am feeling low today and a bit emotional.

    Im not normally into Schadenfreude, but I cannot tell you have much this has lifted my spirits

    90
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    Mute William O'Shea
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    Dec 16th 2011, 6:59 PM

    Hope things pick up for ya……….. Truth is this judgement probably wiped the schadenfreude smile from Her mush!

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    Mute Shane Brehony
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    Dec 17th 2011, 12:35 PM

    What kind of a donkey can put thumbs down to comments like this .

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    Mute ged_star
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    Dec 16th 2011, 3:20 PM

    Great news, now all we have to do is nail all the other f**kers that ruined the country, including politicians.

    88
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    Mute Jammy Mason
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    Dec 16th 2011, 4:29 PM

    That would make it a very happy Christmas for all of us :-)

    41
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    Mute Tony Stanley
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    Dec 16th 2011, 2:52 PM

    Delighted for her! So much for that additional ivory back scratcher!

    87
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    Mute John Murray
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    Dec 16th 2011, 4:12 PM

    She won’t pay a penny!! But the 67 year old lady after her in court would get 14 days in mountjoy for not having a tv license!!

    79
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    Mute jason bourne
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    Dec 16th 2011, 4:49 PM

    No She will not… Stop this myth of people getting Mountjoy over tv licences

    29
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    Mute Noddy Mooney
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    Dec 16th 2011, 6:09 PM

    Don’t pay the lesser fee of 100 euro household tax and you’ll get prison.

    31
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    Mute Manfred Meyer
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    Dec 16th 2011, 3:21 PM

    The mind boggles.
    Was Sean Quinn married to a bimbo?
    I very much doubt that.

    64
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    Mute Rodger O Waters
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    Dec 16th 2011, 3:40 PM

    He wishes,

    42
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    Mute Ed Appleby
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    Dec 16th 2011, 4:21 PM

    Pleading ignorance is no defence for Mrs Quinn, she was more than happy to live well off the proceeds of her husbands ‘undue earnings’. The woman’s whinging is enough to make you puke given the amount of money, property and other valuables this particular family have in their possession and that’s only the wealth we actually know about, you can be sure there are plenty of hidden assets and offshore accounts squirrelled away out of the reach of any Irish banks or govt. agencies How many Quinn assets are in the names of his children, grandchildren etc? This Quinn woman won’t be worrying about where her christmas dinner is coming from this year unlike many others in Ireland whose husbands didn’t gamble on casino banks and take punts on developments that turned into turkeys!

    54
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    Mute Adam Magari
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    Dec 16th 2011, 3:23 PM

    Some would say that undue influence has been the root of the country’s problems for many years.

    48
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    Mute Stephen Pluck
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    Dec 16th 2011, 4:34 PM

    No business knowledge but a director of over 90 companies…. Pull the other one there love

    47
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    Mute Anthony Harland
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    Dec 16th 2011, 5:15 PM

    Director of 63 Irish companies, 28 UK companies and a company secretary in 10 but God bless her she still doesn’t even have a basic knowledge of business matters. Ah bless, is there some charity I can donate to so that she can get a bit of an education. Such a sad story and so close to Christmas too….some neck on her!

    44
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    Mute Kerry Blake
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    Dec 16th 2011, 3:10 PM

    Happy days :-)

    44
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    Mute Kevin McCarthy
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    Dec 16th 2011, 4:43 PM

    She could maybe now do a bit of stand up comedy. Great material there. Then maybe a tour and a Fringe festival slot.

    33
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    Mute Cormac Flanagan
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    Dec 16th 2011, 5:06 PM

    She does need the money

    19
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    Mute Ryan Murphy
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    Dec 16th 2011, 5:31 PM

    Any of Seanie (why are they all called Sean?) Quinn’s valiant defenders about, now that he has taken to hiding behind his wife?

    32
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    Mute Siobhan Ni Fhaolain
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    Dec 16th 2011, 4:22 PM

    Nice try! Close…. But no cigar!!!

    19
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    Mute Dee Ferry Kennedy
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    Dec 16th 2011, 8:37 PM

    Merry Christmas now let’s get the rest of the bastards starting at the top

    17
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    Mute michael cuthbert
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    Dec 16th 2011, 6:48 PM

    Interesting. Is this the first court case where one of the super-rich has been found against? A woman (silly trying to play the blond defence), not directly involved in amassing a fortune. Misogyny?

    15
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    Mute vv7k7Z3c
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    Dec 16th 2011, 6:59 PM

    Are you excluding her super-rich husband who was the subject of a €1.6bn order against the same bank only a few weeks ago?

    12
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    Mute William O'Shea
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    Dec 16th 2011, 7:21 PM

    I concur one hundred percent with this judgement…….. but I suspect for a female in a patriarchal FF home only one opinion prevails……….

    11
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    Mute Frank Buffets
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    Dec 16th 2011, 7:10 PM

    First we had declaring bankrupt in northern Ireland and now this. One can only imagine Sean Quinn frantically transferring all the family assets further down the chain of family members. Ah bless, at least the solicitors will get a nice Christmas bonus.

    10
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    Mute Graham Gallagher
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    Dec 16th 2011, 10:54 PM

    Neck like a jockeys on mrs quinn!

    7
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    Mute Titus d
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    Dec 17th 2011, 2:09 AM

    Mrs Quinn will need to start a few house cleaning jobs to pay it back

    6
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    Mute Frank2521
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    Dec 16th 2011, 10:54 PM

    Call Bertie for a dig out – he is doing well now on the horses I hear.

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    Mute Paraic Conlon
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    Dec 17th 2011, 3:35 AM

    Good bless her , ” I didnt know wat I was signing” 3 million are you fuc@ing serious, wat bout my mortgage, if I told the judge I didn’t know wat I was signing at the time wat would he say, he would say tough shite keep paying

    3
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    Mute Rommel Burke
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    Dec 17th 2011, 10:19 AM

    Or probably find us in contempt of court! My 9 year old comes up with more believable excuses ffs!

    3
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