Leo Varadkar (Dublin West, Fine Gael) | Oireachtas source

The only interest Sinn Féin has taken in economic policy is to seek a transfer of corporate taxation powers to Northern Ireland so as to reduce corporation profit taxes for corporations. At the same time, it refuses to take an economic Ministry because it does not want to take responsibility for the measures in place in Northern Ireland. Sinn Féin will of course argue that it is only implementing Tory policies. In reality, Sinn Féin is party to a Government of a State which is dependant on Tory subsidies. When they have to balance the books in the way we here have to balance our books they will be reducing those already paltry welfare rates further.

In its pre-budget submission Sinn Féin proposed €3.5 billion in spending cuts and new taxes. Yet, it claims to be against austerity. Regardless of how one does it or dresses it up, the removal of €3.5 billion from the economy is austerity. Regardless of from whom one takes money, it will have a dampening effect on the economy. Sinn Féin can dress it up any way it likes. It is a pro-austerity party and should stop pretending otherwise.

Sinn Féin also proposed the taxing of pension contributions at the standard rate in its pre-budget submission. What does this mean? It means a pay cut for every public servant earning €35,000 per annum or more because they will be taxed at the standard rate on their pension levy. It means a pay cut for any private sector employee or self employed person who contributes to a pension because they will be taxed on their pension contributions. Sinn Féin wants pay cuts not only for the high paid but for everyone earning more than €35,000 per annum.

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