Sinn Féin today unveiled its so-called “End of Rip Off” alternative budget, centred on a €2.5 billion cost-of-living package that it claims will shield families from soaring prices.
At the launch in Ballsbridge, party leader Mary Lou McDonald emphasised that the cost-of-living crisis is far from over. “The price of everything is going through the roof – energy bills, rent, insurance, childcare and groceries. This is why we are proposing a €2.5 billion cost-of-living package to help people through the winter, to help households to get by,” she said.
Under the proposals, every household would receive a €450 energy credit (totaling about €990 million). Sinn Féin also plans to scrap third-level student fees, reduce childcare to €10 per day, and abolish the TV licence.
On social welfare, the party would give a €300 bonus to all recipients and boost core welfare payments and pensions by €15. Their plan includes raising Child Benefit by €10 per child, increasing the Child Support Payment by €6 (for under 12s) and €15 (over 12s), doubling the Back to School Clothing and Footwear Allowance, and expanding eligibility for the Working Family Payment.
To fund this package, Sinn Féin proposes a series of revenue measures: eliminating USC on earnings under €40,000, cutting tax breaks for incomes over €100,000, imposing a new “solidarity tax” on those earning over €140,000, and introducing a €450 charge on second homes.
The party argues that means-tested supports alone are insufficient, and that a mixture of universal and targeted supports is essential to reach people across the spectrum. They claim their alternative shows that a different approach is possible — one that doesn’t abandon ordinary households while the better off shield themselves.
Other parties are now rolling out their own counter-budgets to contrast with Sinn Féin’s plan. The Social Democrats have proposed a €400 targeted energy credit for households earning under about €45,000, along with a €15 weekly uplift in core welfare and reductions in childcare costs. They would pay for this in part by phasing out tax credits for those earning over €100,000. The party argues that “those one-off measures … are not the right approach” and wants a budget that is “sustainable, focused on lifting children out of poverty.”
Meanwhile, Government sources indicate that no changes to personal income tax bands or credits are expected in Budget 2026. With the tax package already set at €1.5 billion, discussions suggest there’s simply “no space at all to do a personal tax package.” At the same time, warnings from fiscal watchdogs point to the risk of the proposed €9.4 billion package posing an overheating threat to the economy if overly expansionary.
Inside Government, tensions are mounting as departments haggle over allocations. Ministers from Health, Education, Social Protection and Housing remain locked in disagreement with the Department of Public Expenditure, especially over hiring hundreds or even thousands of additional staff. The Department is pushing back, insisting that previous cost-of-living top-ups be treated as “new” spending — limiting room for fresh initiatives. Some insiders say this may lead to a constraining Budget despite the ambition from opposition parties.
Critics will point out the scale of the challenge in funding such spending, the risk of inflationary pressures, and whether the proposed revenue-raising measures are politically or economically feasible. But Sinn Féin wants to frame this as a message: the State must act decisively to ease pressures on working families now.
