Stop the Handover – SF Launch pre-budget submission

On the 15th of November Sinn Féin launched its pre-budget submission that outlined in detail how it is possible to introduce a budget that is fair and equitable while still making a €3.5 billion deficit adjustment.

Deputy Seán Crowe, who attended the budget launch said: “Our proposals are part of a series of initiatives launched in opposition to the Fine Gael/Labour Government’s plans to give more money to Anglo Irish Bank bondholders. They also explain the Party’s alternative to another austerity budget.

“Under our proposals, all workers earning up to 75,000 euro will be better off and we are also calling for a 100,000 euro cap on public sector pay as an emergency measure during the crisis; the abolition of the universal social charge; a 1% wealth tax and a third 48% tax rate targeting the better off.

“The measures would go towards funding a seven billion euro jobs package while protecting lower and middle income earners. Sinn Fein’s alternative to the Government’s plans would demand those who earn most pay most, and would take half a million people out of the tax net.

“The proposals include a 1% wealth tax on assets of more than a million euro, but not including farmland, business assets and a fifth of the value of main homes worth more than a million euro. A new third tax rate band of 48% would apply to incomes of more than 100,000 euro.”
Arguing for the universal social charge to be scrapped, Mr Crowe said the reintroduction of the health levy and income levy, at a lower rate of 1% on income up to 75,000 euro, would be fairer.

“This is a fairer budget that protects people on low and middle incomes at a time,” he continued,

“when we face rising jobs losses and spiralling poverty. We have ruled out household and water charges, VAT increases, any rise in student fees, septic tank charges and excise duty increases. We have also vowed not to reduce social welfare, frontline public services and the capital budget.

 “Our budget would ensure every child in the state gets a free hot meal at lunchtime in school as well as the introduction of a money-saving book scheme. We would lift the recruitment freeze on nurses, teachers and gardaí and our proposals would create 3,500 extra frontline jobs
“Waste-saving measures would include capping public sector pay at €100,000 for individuals, including that of semi-State chief executives, cutting State board fees by a quarter, with similar cuts on professional charges to the public sector.

“Government salaries would be capped at €100,000, TDs at €75,000 and senators at €60,000.

“The seven billion euro jobs stimulus program would come from 5.3 billion euro from the National Pension Reserve Fund and another 1.7 billion euro from the European Investment Bank.

“On November 26 Sinn Féin will be holding a Day-of-Action around the country in opposition to the next payment to Anglo Irish bondholders.  The day of action will include pickets, street theatre and leaflet drops. Under the banner of “Stop the Handover” – the rally will take place outside the gates of Leinster House at 6pm.”